On Wednesday the S&P/ASX 200 index came under pressure and tumbled lower due to a combination of trade war and impeachment concerns. The index finished the day 0.6% lower at 6,710.2 points.
Will the local share market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to rise.
The Australian share market looks set to rebound slightly on Thursday after a positive night of trade in the United States. According to the latest SPI futures, the ASX 200 index is expected to open the day 12 points or 0.2% higher this morning. On Wall Street the Dow Jones rose 0.6%, the S&P 500 climbed 0.6%, and the Nasdaq index pushed 1.05% higher.
Tech shares could rebound.
A number of tech shares such as Altium Limited (ASX: ALU) and Nearmap Ltd (ASX: NEA) dropped lower yesterday but look set to rebound today after their U.S. counterparts were strong performers on Wall Street. The technology-focused Nasdaq index surged 1.05% higher after President Trump said a trade deal could come soon.
Oil prices slide again.
Energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could continue to edge lower after oil prices continued their slide. According to Bloomberg, the WTI crude oil price dropped 14% to US$56.50 a barrel and the Brent crude oil price fell 1.15% to US$62.38 a barrel after a surprise build-up of U.S. crude.
Gold price tumbles.
Gold miners including Northern Star Resources Ltd (ASX: NST) and Saracen Mineral Holdings Limited (ASX: SAR) could come under pressure today after the gold price dropped notably lower. According to CNBC, the spot gold price dropped 1.9% to US$1,511.0 an ounce.
Dividends being paid.
A number of Australia's biggest companies are due to pay their dividends later today. This includes banking giant Commonwealth Bank of Australia (ASX: CBA), energy producer Santos, and telco company Telstra Corporation Ltd (ASX: TLS).
