On Thursday the S&P/ASX 200 Index finished the day 0.4% lower at 6,198.7 points following declines in the banking sector.
Will the market be able to bounce back on Friday and finish the week on a high? Here are five things to watch:
ASX futures pointing higher.
The Australian share market looks set to finish the week on a positive note despite a soft night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open 0.4% or 22 points higher on Friday. Over on Wall Street the Dow Jones edged slightly lower, the S&P 500 was flat, and the Nasdaq index dropped 0.2% ahead of the start of earnings season.
Oil prices sink.
The Beach Energy Ltd (ASX: BPT) share price and the Santos Ltd (ASX: STO) share price could end the week in the red after oil prices sank lower overnight after U.S. crude inventories increased to a 17-month high. According to Bloomberg, the WTI crude oil price is down 1.4% to US$63.70 a barrel and the Brent crude oil price has dropped 1.1% to US$70.96 a barrel.
Gold price tumbles.
Australia's leading gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could come under pressure on Friday after the gold price tumbled lower. According to CNBC, the spot gold price is down 1.4% to US$1,295.30 an ounce due to profit taking from traders.
Bank of Queensland rated as a sell.
A note out of Goldman Sachs reveals that it was disappointed with the Bank of Queensland Limited (ASX: BOQ) half year result on Thursday. In light of this, the broker has held firm with its sell rating and trimmed the price target on its shares to $9.09. The broker believes better returns can be found from elsewhere in the sector.
Dividends being paid.
A large number of popular shares will be paying their latest dividends to shareholders later today. These include biotech giant CSL Limited (ASX: CSL), travel agent Flight Centre Travel Group Ltd (ASX: FLT), funerals company InvoCare Limited (ASX: IVC), and job listings company SEEK Limited (ASX: SEK).
