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5 things to watch on the ASX 200 on Friday

On Thursday the S&P/ASX 200 index returned to form and stormed higher. The benchmark index finished the day 1.15% higher at 6,683 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 continue its push higher on Friday. According to the latest SPI futures, the ASX 200 index is expected to rise 9 points or 0.1% at the open. This follows a mildly positive night on Wall Street. In late trade the Dow Jones is up 0.1%, the S&P 500 is up 0.15%, and the Nasdaq has pushed a few points higher.

Boral bombshell.

The Boral Limited (ASX: BLD) share price could come under pressure today after a late announcement on Thursday. That announcement revealed that it has identified certain financial irregularities in its North American Windows business. This includes the misreporting of inventory levels and raw material and labour costs. This is expected to impact its EBITDA by US$20 million to US$30 million.

Oil prices higher.

Oil Search Limited (ASX: OSH), Santos Ltd (ASX: STO), and the rest of Australia’s energy producers could be on the rise again today after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.2% to US$58.54 a barrel and the Brent crude oil price has risen 0.75% to US$63.47 a barrel.

Gold price edges higher.

Evolution Mining Ltd (ASX: EVN) and St Barbara Ltd (ASX: SBM) will be on watch today after the gold price edged higher. According to CNBC, the spot gold price is up 0.1% to US$1,481.4 an ounce after trade war uncertainty boosted risk off assets.

Afterpay rated as a buy.

The Afterpay Limited (ASX: APT) share price could push higher today after analysts at Goldman Sachs responded positively to its impressive Black Friday sales update. According to the note, the broker has retained its conviction buy rating and $42.90 price target. This price target implies potential upside of 44% over the next 12 months.

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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 AFTERPAY T FPO. 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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