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5 things to watch on the ASX 200 on Friday

The S&P/ASX 200 index returned to form on Thursday and pushed notably higher. The benchmark index finished the day 1% higher at 6,726.6 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 finish to the week for the S&P/ASX 200 index on Friday. According to the latest SPI futures, the ASX 200 is expected to open 16 points or 0.25% higher this morning. This follows a positive night of trade on Wall Street which saw the Dow Jones rise 0.7%, the S&P 500 climb 0.3%, and the Nasdaq push 0.35% higher. Optimism that a trade deal will be signed was behind this gain.

Oil prices rise.

Energy shares such as Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could finish the week on a high after oil prices pushed higher. According to Bloomberg, the WTI crude oil price rose 1.4% to US$57.13 a barrel and the Brent crude oil price climbed 0.9% to US$62.29 a barrel. Trade deal optimism was also behind this solid rise.

Platinum update.

The Platinum Asset Management Ltd (ASX: PTM) share price will be on watch today after the asset manager released its monthly update after the market close. In October Platinum once again experienced net outflows. This time the outflows were approximately $252 million. This includes net outflows from the Platinum Trust Funds of approximately $212 million.

Gold price crashes.

It looks set to be a disappointing finish to the week for Australia’s gold miners. The likes of Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could tumble after the gold price crashed lower. According to CNBC, the spot gold price fell 1.65% to US$1,468.40 an ounce. Trade deal hopes weighed on the safe haven asset.

Avita added to ASX 200.

The Avita Medical Ltd (ASX: AVH) share price could be on the rise after it was added to the ASX200. It will replace Aveo Group (ASX: AOG) in the benchmark index on November 14 when Brookfield Asset Management Inc acquires the retirement communities company.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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.

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