On Wednesday the S&P/ASX 200 index returned to form and pushed notably higher. The benchmark index rose 0.4% to 7,144.6 points.
Will the local share market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to rise.
The S&P/ASX 200 index looks set to continue its push higher this morning. According to the latest SPI futures, the ASX 200 is poised to rise 19 points or 0.3% at the open. This follows a positive night on Wall Street which in late trade sees the Dow Jones up 0.5%, the S&P 500 up 0.55%, and the Nasdaq storming 0.9% higher.
Travel results part two.
Hot on the heels of the Corporate Travel Management Ltd (ASX: CTD) and Webjet Limited (ASX: WEB) results on Wednesday, two more travel shares are due to release their results this morning. Both Qantas Airways Limited (ASX: QAN) and Sydney Airport Holdings Pty Ltd (ASX: SYD) are scheduled to release their respective results and are likely to advise how the coronavirus outbreak has impacted their performances. Qantas was tipped by Goldman Sachs as a company that could disappoint during earnings season.
Oil prices surge higher.
Energy shares Santos Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices surged higher again. According to Bloomberg, the WTI crude oil price jumped 2.6% to US$53.40 a barrel and the Brent crude oil price has stormed 2.5% higher to US$59.20 a barrel. Oil prices surged higher after coronavirus concerns eased.
Gold price higher.
Gold miners Resolute Mining Limited (ASX: RSG) and Saracen Mineral Holdings Limited (ASX: SAR) could be on the move today after the gold price pushed higher again. According to CNBC, the spot gold price is up a further 0.45% to US$1,610.70 an ounce despite coronavirus concerns easing.
Coca Cola full year result.
The Coca-Cola Amatil Ltd (ASX: CCL) share price will be on watch today when the beverage giant releases its full year results. According to a note out of Goldman Sachs, it expects the company to report sales of $5.07 billion. This will be a 5.6% year on year increase. Underlying EBIT is expected to be down 4.5% to $620.2 million.
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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 Corporate Travel Management Limited and Sydney Airport Holdings Limited. The Motley Fool Australia has recommended Webjet Ltd. 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.