On Thursday the S&P/ASX 200 index had a day to forget and crashed a very disappointing 2.2% to 6,493 points.
Will the local share market be able to bounce back from this on Friday and finish the week on a high? Here are five things to watch:
ASX 200 expected to rebound.
The Australian share market looks set to rebound from yesterday’s selloff after a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to climb 33 points or 0.5% at the open. In the United States the Dow Jones climbed 0.5%, the S&P 500 rose 0.8%, and the Nasdaq stormed 1.1% higher.
Oil prices slide.
Australian energy producers including Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) will be on watch today after oil prices continued to slide. According to Bloomberg, the WTI crude oil price fell 0.6% to US$52.32 a barrel and the Brent crude oil price dropped 0.1% to US$57.65 a barrel.
Gold price higher.
It could be another positive day for the likes of Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) after the gold price pushed higher again. According to CNBC, the spot gold price rose 0.2% to US$1,511 an ounce overnight.
Tech shares could rise.
It looks set to be a positive finish to the week for Australian tech shares such as Altium Limited (ASX: ALU) and WiseTech Global Ltd (ASX: WTC) after their U.S. counterparts raced higher overnight. The technology-focused Nasdaq index rebounded from Wednesday’s sell off and rose 1.1%.
Dividends being paid.
A number of popular income shares will be rewarding their shareholders with their latest dividends today. These include fuel retailer Caltex Australia Limited (ASX: CTX), casino and resorts operator Crown Resorts Ltd (ASX: CWN), funeral company InvoCare Limited (ASX: IVC), and insurance giant QBE Insurance Group Ltd (ASX: QBE).
We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
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 owns shares of and has recommended Crown Resorts Limited. The Motley Fool Australia has recommended InvoCare 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.
- 3 high quality ASX dividend shares for patient investors – July 2, 2020 4:23pm
- 2 exciting small cap ASX shares that could be destined for big futures – July 2, 2020 3:36pm
- Why I would buy and hold a2 Milk and this ASX 200 share until 2030 – July 2, 2020 3:23pm