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5 things to watch on the ASX 200 on Thursday

On Wednesday the S&P/ASX 200 index followed the lead of U.S. markets and dropped 0.3% to 6,553 points.

Will the Australian share market bounce back on Thursday? Here are five things to watch:

ASX 200 futures pointing higher.   

The Australian share market looks set to rebound strongly on Thursday after U.S. markets returned to form overnight. According to the latest SPI futures, the ASX 200 index is poised to open the day 19 points or 0.3% higher this morning. On Wall Street the Dow Jones rose 0.9%, the S&P 500 climbed 1.1%, and the Nasdaq raced 1.3% higher.

Oil prices charge higher.

Beach Energy Ltd (ASX: BPT), Oil Search Limited (ASX: OSH), and the rest of Australia’s energy producers look set for a positive day of trade after oil prices surged higher. According to Bloomberg, the WTI crude oil price raced 3.8% higher to US$56.00 a barrel and the Brent crude oil price charged 3.8% to US$60..48 a barrel. Strong economic data out of China was the catalyst for these gains.

Broker names Telstra as a buy.

The Telstra Corporation Ltd (ASX: TLS) share price could be on the move today after the release of a positive broker note out of Goldman Sachs. According to the note, the broker has looked through its recent update and decided to hold firm with its buy rating and $4.20 price target.

Gold price higher.

It looks set to be another positive day of trade for gold miners such as Northern Star Resources Ltd (ASX: NST) and Resolute Mining Limited (ASX: RSG) after the gold price continued its ascent. According to CNBC, the spot gold price is up 0.4% to US$1,561.60 an ounce after U.S. yields slipped. This has left the precious metal trading within touching distance of a multi-year high.

Shares going ex-dividend.

Another group of shares are trading ex-dividend this morning and are likely to edge lower. These include mining giant BHP Group Ltd (ASX: BHP), corporate travel specialist Corporate Travel Management Ltd (ASX: CTD), private hospital operator Ramsay Health Care Limited (ASX: RHC), and coal giant Whitehaven Coal Ltd (ASX: WHC).

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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 Corporate Travel Management Limited and Telstra Limited. The Motley Fool Australia has recommended Ramsay Health Care 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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