On Thursday the benchmark S&P/ASX 200 index dropped 0.6% lower to 6,338.4 points after the banking sector retreated.
Will the market be able to bounce back on Friday? Here are five things to watch:
ASX futures pointing higher.
The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is poised to open the day 6 points or 0.1% higher this morning. This is despite it following a disappointing night of trade on Wall Street which saw the Dow Jones fall 0.45%, the S&P 500 drop 0.2%, and the Nasdaq edge 0.15% lower.
Macquarie results.
This morning the Macquarie Group Ltd (ASX: MQG) share price will be on watch when it releases its full year results. According to a note out of Goldman Sachs, its analysts are expecting the investment bank to report a cash net profit after tax of $2,999 million, up 17.3% on the prior corresponding period. The broker expects the bank to reward shareholders by increasing its final dividend by 24.1% to 397 cents per share.
ResMed results.
ResMed Inc. (ASX: RMD) is scheduled to release its third quarter results before the market opens. A note out of Credit Suisse reveals that it expects the sleep treatment company to return to form in the third quarter with revenue growth of 14% in constant currency. It has an outperform rating and $15.35 price target on the company's shares.
Janus Henderson results.
The Janus Henderson PLC (ASX: JHG) share price could drop lower today following the release of its first quarter results after the market close on Thursday. The fund manager reported first quarter net income of US$94.1 million, which was down 43% on the prior corresponding period. The company's U.S. listed shares tumbled 6.5% lower overnight.
Oil prices mixed.
Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could come under pressure after oil prices crashed lower overnight. According to Bloomberg, the WTI crude oil price fell 3.1% to US$61.64 a barrel and the Brent crude oil price tumble 2.4% to US$70.45 a barrel after supply concerns eased.
