On Wednesday the S&P/ASX 200 index continued its strong form and pushed a further 0.7% higher to 6,285 points.
Will the Australian share market build on this on Thursday? Here are five things to watch:
ASX futures pointing lower.
The Australian share market looks set to end its winning streak on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 0.2% or 11 points lower this morning. This follows a reasonably positive night of trade on Wall Street which late in the session sees the Dow Jones slightly lower, the S&P 500 up 0.1%, and the Nasdaq 0.5% higher.
Oil prices slide lower.
Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) shares will be on watch on Thursday after oil prices pulled back. According to Bloomberg, the WTI crude oil price has dropped 0.3% to US$62.39 a barrel and the Brent crude oil price has edged lower to US$69.36 a barrel. WTI crude oil prices dropped lower after U.S. crude stockpiles increased.
Tech shares could push higher.
Although the market is expected to open the day lower, Australian tech shares including Afterpay Touch Group Ltd (ASX: APT) and Appen Ltd (ASX: APX) could continue their positive form after their U.S. counterparts pushed higher overnight. Almost all FAANG stocks have recorded gains, taking the Nasdaq 0.5% higher.
Harvey Norman goes ex-dividend.
The Harvey Norman Holdings Limited (ASX: HVN) share price is likely to trade 3% lower on Thursday after trading ex-dividend for the retailer’s fully franked interim 12 cents per share dividend. This will then be paid to shareholders on May 1.
Dividends being paid.
A number of popular shares are paying their dividends later today. These include casino and resort operator Crown Resorts Ltd (ASX: CWN), waste management company Cleanaway Waste Management Ltd (ASX: CWY), mineral sands producer Iluka Resources Limited (ASX: ILU), and mining giant South32 Ltd (ASX: S32).
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Crown Resorts Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO and Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.