On Wednesday the S&P/ASX 200 index was out of form once again and tumbled notably lower. The benchmark index fell a disappointing 0.8% to 6,698.4 points.
Will the local share market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 poised to rise.
The S&P/ASX 200 index looks set to bounce back on Thursday. According to the latest SPI futures, the ASX 200 is expected to open 24 points or 0.35% higher this morning. This follows a positive night of trade on Wall Street which saw the Dow Jones trade 0.4% higher, the S&P 500 rise 0.1%, and the Nasdaq trade flat.
Oil prices push higher.
Energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices pushed higher. According to Bloomberg, the WTI crude oil price climbed 0.7% to US$57.22 a barrel and the Brent crude oil price rose 0.7% to US$62.51 a barrel.
Gold price races higher.
Trade deal doubts have given the gold price a big boost overnight. This could mean the likes of Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) trade higher on Thursday. According to CNBC, the spot gold price raced 0.7% higher to US$1,464.0 an ounce.
NAB goes ex-dividend.
The National Australia Bank Ltd (ASX: NAB) share price is likely to drop notably lower on Thursday after trading ex-dividend this morning. The banking giant will be paying its 83 cents per share fully franked dividend to eligible shareholders on December 12.
Annual general meetings.
There are another group of shares holding their annual general meetings today. Each is likely to provide a trading update at their respective event. These include tech star Nearmap Ltd (ASX: NEA), private hospital operator Ramsay Health Care Limited (ASX: RHC), and conglomerate Wesfarmers Ltd (ASX: WES).
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of National Australia Bank Limited and Wesfarmers Limited. The Motley Fool Australia has recommended Ramsay Health Care 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.
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