On Wednesday the S&P/ASX 200 index managed to carve out the smallest of gains. The benchmark index pushed 4 points higher to 6,851.4 points.
Will the local share market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to slide.
The S&P/ASX 200 index is poised to drop lower on Thursday. According to the latest SPI futures, the ASX 200 is expected to fall 0.25% or 16 points at the open. This is despite it being a positive night of trade on Wall Street. In late trade the Dow Jones is up 0.1%, the S&P 500 is trading 0.1% higher, and the Nasdaq index is up 0.25%.
Tech shares could outperform.
Australia's leading tech shares such as Afterpay Ltd (ASX: APT) and Appen Ltd (ASX: APX) could outperform today after their US counterparts pushed higher. The technology-focused Nasdaq index was the strongest major index on Wall Street overnight with a 0.25% gain. Local tech shares have a habit of following the lead of their Nasdaq peers.
Oil prices mixed.
Energy shares including Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) will be on watch today after a mixed night of trade for oil prices. According to Bloomberg, the WTI crude oil price is down slightly to US$60.90 a barrel and the Brent crude oil price is up 0.2% to US$66.22 a barrel.
Gold price edges lower.
Gold miners Newcrest Mining Limited (ASX: SAR) and St Barbara Ltd (ASX: SBM) could be on the slide today after the gold price edged lower. According to CNBC, the spot gold price is down 0.1% to US$1,479.2 an ounce.
BHP and Rio Tinto on watch.
Mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) will be on watch today after a slight pullback in the iron ore price overnight. Their US-listed shares are down 0.9% and 0.5%, respectively, in late trade on Wall Street.
