On Thursday the S&P/ASX 200 index was on form again and posted yet another gain. The benchmark index climbed 0.2% to 6,864 points.
Will the local market be able to build on this on Friday? Here are five things to watch:
ASX expected to rise.
The S&P/ASX 200 index looks set to end the week on a high. According to the latest SPI futures, the ASX 200 index is expected to rise 25 points or 0.35% at the open. This follows a reasonably positive night of trade on Wall Street. In late trade the Dow Jones is up 0.15%, the S&P 500 index has jumped 0.4%, and the Nasdaq is trading flat.
Oil prices mixed.
Santos Ltd (ASX: STO), Woodside Petroleum Limited (ASX: WPL), and the rest of Australia’s energy producers will be on watch on Friday after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.2% to US$58.24 a barrel and the Brent crude oil price fell 0.3% to US$63.87 a barrel.
Banks on watch.
All eyes will be on Macquarie Group Ltd (ASX: MQG), Bank of Queensland Limited (ASX: BOQ) and the other regional banks on Friday. They are due to be grilled about their anti-money laundering practices at a parliamentary hearing in Canberra today.
Gold price edges higher.
Gold miners Northern Star Resources Ltd (ASX: NST) and St Barbara Ltd (ASX: SBM) could push higher today after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.1% to US$1,462.10 an ounce. The price of the precious metal rose after Hong Kong tensions fuelled trade deal doubts.
Premier Investments AGM.
The Premier Investments Limited (ASX: PMV) share price could be on the move on Friday. The retail conglomerate behind brands such as Smiggle and Peter Alexander is holding its annual general meeting in Melbourne. It is likely to provide a trading update and guidance for FY 2020 at the event.
Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.
One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Another is a diversified conglomerate trading over 40% off it's high, all while offering a fully franked dividend yield over 3%...
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Premier Investments 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.