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5 things to watch on the ASX 200 on Friday

On Thursday the S&P/ASX 200 index came under pressure for a second day in a row and dropped 0.5% to 6,677.6 points.

Will the local share market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise.   

The Australian share market looks set to rebound despite a weak night of trade in the United States. According to the latest SPI futures, the ASX 200 index is expected to open the day 35 points or 0.4% higher this morning. On Wall Street the Dow Jones fell 0.3%, the S&P 500 dropped 0.25%, and the Nasdaq index tumbled 0.5% lower.

Trade talks to resume.

The Australian share market looks set to get a boost from breaking news that the United States and China will resume trade talks on October 10. According to CNBC, the talks will take place in Washington next month, with Chinese Vice Premier Liu He representing the delegation from Beijing. This follows comments from President Trump earlier this week that hinted that a trade deal could be close.

Tech shares on watch.

Australian tech shares such as Altium Limited (ASX: ALU) and WiseTech Global Ltd (ASX: WTC) will be on watch today after the technology-focused Nasdaq index tumbled lower. However, this could be offset by the positive trade talks news.

Oil prices edge higher.

Energy shares including Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) could be on the rise today after oil prices bounced back slightly. According to Bloomberg, the WTI crude oil price rose 0.1% to US$56.54 a barrel and the Brent crude oil price climbed 0.4% to US$62.64 a barrel.

Gold price tumbles.

It looks set to be a subdued end to the week for gold miners such as Northern Star Resources Ltd (ASX: NST) and St Barbara Ltd (ASX: SBM) after the spot gold price dropped lower again. According to CNBC, the spot gold price dropped 0.1% to US$1,510.7 an ounce. And I suspect the trade talks news could put further pressure on the precious metal as the day goes on.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Altium and WiseTech Global. The Motley Fool Australia has no position in any of the stocks mentioned. 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.