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5 things to watch on the ASX 200 on Friday

On Thursday the S&P/ASX 200 index returned to form and finished the day 0.4% higher at 6,295.3 points.

Will the market be able to build on this on Friday? Here are five things to watch:

ASX futures pointing lower.

The Australian share market looks set to finish the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points or 0.2% lower following another poor night of trade on Wall Street. The Dow Jones dropped 0.55%, the S&P 500 fell 0.3%, and the Nasdaq tumbled 0.4%. In a few hours U.S. tariffs on Chinese goods will kick in.

Oil price lower.

Australian energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices dropped lower. According to Bloomberg, the WTI crude oil price fell 0.85% to US$61.59 a barrel and the Brent crude oil price edged 0.2% lower to US$70.23 a barrel.

Gold price higher.

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could be on the rise today after market volatility led to the gold price pushing higher. According to CNBC, the spot gold price is up 0.25% to US$1,284.30 an ounce.

REA Group on watch.

The REA Group Limited (ASX: REA) share price will be on watch this morning when the real estate listings company releases its third quarter update. Investors will be eager to see how listings have fared given the housing market downturn and the upcoming election.

Orica rated as a sell.

The Orica Ltd (ASX: ORI) share price was one of the best performers on the ASX 200 on Thursday following a stronger than expected half year result from the commercial explosives company. But one broker that is still not buying its shares is Goldman Sachs. According to a note, it has retained its sell rating and lifted the price target on its shares to $16.60. Whilst its result was “solid”, it remains a sell on valuation grounds.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. 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.

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