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5 things to watch on the ASX 200 on Friday

On Thursday the S&P/ASX 200 index was on form and recorded a solid gain. The benchmark index climbed 0.3% to 6,693.6points.

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

ASX 200 futures pointing higher.   

The S&P/ASX 200 index looks set to finish the week on a positive note. According to the latest SPI futures, the ASX 200 is poised to rise 40 points or 0.6% at the open. On Wall Street the Dow Jones edged lower, the S&P 500 rose 0.2%, and the Nasdaq stormed 0.8% higher.

Oil prices climb higher.

Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could be heading higher again today after oil prices climbed again. According to Bloomberg, the WTI crude oil price rose 0.4% to US$56.18 a barrel and the Brent crude oil price pushed 0.7% higher to US$61.60 a barrel. This was the third day in a row of solid gains for oil.

ResMed result.

The ResMed Inc (ASX: RMD) share price will be on watch on Friday when it releases its first quarter result. Expectations are high for the sleep treatment-focused medical device company. The consensus earnings per share estimate is US$0.87, whereas revenue is expected to be US$660.87 million. This is a 7.4% and 12.3% increase, respectively.

Companies holding their AGMs.

Another group of companies are due to hold their annual general meetings today and could provide trading updates. This includes Cleanaway Waste Management Ltd (ASX: CWY), GWA Group Ltd (ASX: GWA), and Qantas Airways Limited (ASX: QAN). Though, the latter released its Q1 update yesterday, which can be found here.

Gold edges higher.

Increasing rate cut bets led to the gold price pushing higher again overnight, which could be good news for gold miners such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST). According to CNBC, the spot gold price rose 0.6% to US$1,505.2 an ounce.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. 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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