On Wednesday the S&P/ASX 200 index managed to keep its strong run going with a 0.15% gain to 6,510.7 points.
Will the market be able to keep pushing higher on Thursday? Here are five things to watch:
ASX futures pointing lower.
The Australian share market looks set to end its run 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 after trade war concerns led to weakness on Wall Street. The Dow Jones fell 0.4%, the S&P 500 dropped 0.3%, and the Nasdaq index fell 0.45%.
Aristocrat Leisure half year result.
The Aristocrat Leisure Limited (ASX: ALL) share price will be on watch on Thursday when the gaming technology company releases its highly-anticipated half year results. According to a note out of Goldman Sachs, it expects a 51% increase in revenue to $2.1 billion, a 12% lift in EBITA to $617 million, and a 9% rise in NPATA to $394 million.
Oil prices crash lower.
Australian energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices crashed lower. According to Bloomberg, the WTI crude oil price fell 2.85% to US$61.33 a barrel and the Brent crude oil price dropped 1.9% to US$70.83 a barrel. A surge in U.S. stockpiles weighed on oil prices.
Gold price edges higher.
It looks set to be a reasonably positive day of trade for gold miners such as Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) after trade war concerns led to increased demand for safe haven assets. According to CNBC, the spot gold price rose slightly to US$1,273.50.
Tech shares on watch.
Concerns over escalating tensions between the U.S. and China could weigh on the tech sector and the shares of Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) again on Thursday. Overnight on Wall Street the technology-focused Nasdaq index fell 0.45%.
