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5 things to watch on the ASX 200 on Friday

On Thursday the S&P/ASX 200 index had a very volatile day but ended it ever so slightly higher at 6,547.1 points.

Will the local share market be able to build on this on Friday? Here are five things to watch:

ASX 200 expected to rise.   

It looks set to be a positive end to the week for the S&P/ASX 200 index following a strong night of trade in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 0.65% or 42 points higher this morning. On Wall Street the Dow Jones climbed 0.6%, the S&P 500 rose 0.65%, and the Nasdaq pushed 0.6% higher. Trade talk optimism led to these strong gains.

Oil prices surge higher.

Energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could end the week on a high after oil prices surged higher overnight. According to Bloomberg, the WTI crude oil price stormed 2% higher to US$53.63 a barrel and the Brent crude oil price jumped 1.6% to US$59.25 a barrel.

Gold price sinks.

It looks set to be a disappointing end to the week for gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) after the spot gold price dropped lower overnight. According to CNBC, the spot gold price fell 0.95% to US$1,498.60 an ounce. Positive trade talks have been blamed on the decline.

South32 upgraded.

The South32 Ltd (ASX: S32) share price will be on watch today after analysts at Goldman Sachs took their sell rating off the miner’s shares ahead of its quarterly update. According to the note, Goldman has upgraded its shares to a neutral rating with a $2.40 price target on valuation grounds. Goldman remains buy-rated on BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO).

Dividends being paid.

A number of popular shares are scheduled to pay their latest dividends to eligible shareholders later today. These include biotherapeutics giant CSL Limited (ASX: CSL), travel agent Flight Centre Travel Group Ltd (ASX: FLT), and conglomerate Seven Group Holdings Ltd (ASX: SVW).

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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 CSL Ltd. The Motley Fool Australia owns shares of and has recommended Flight Centre Travel Group 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.