On Wednesday the S&P/ASX 200 index tumbled lower once again after coronavirus concerns continued to escalate. The benchmark index fell a further 2.3% to 6,708.1 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 slide lower again.
The S&P/ASX 200 index looks set to slide lower again after a rebound on Wall Street ran out of legs. According to the latest SPI futures, the ASX 200 is expected to open the day 25 points or 0.4% lower this morning. In late trade on Wall Street the Dow Jones is down 0.3%, the S&P 500 index is 0.35% lower, and the Nasdaq index is trading ever slightly higher. The Dow Jones was up 100 points at one stage.
Afterpay half year results.
The Afterpay Ltd (ASX: APT) share price will be on watch this morning when it releases its highly anticipated half year results. According to a note out of Goldman Sachs, based on the company’s most recent update and app download data for December, it believes Afterpay could have grown its customer base to 7.2 million users. It has also suggested that its gross merchandise value could have grown to $4.8 billion in the first half.
Oil prices tumble lower.
Santos Ltd (ASX: STO), Woodside Petroleum Limited (ASX: WPL), and the rest of Australia’s energy producers will be on watch after oil prices continued to weaken. According to Bloomberg, the WTI crude oil price has fallen a further 2.4% to US$48.72 a barrel and the Brent crude oil price has dropped 2.9% to US$53.37 a barrel.
A2 Milk Company result.
All eyes will be on the A2 Milk Company Ltd (ASX: A2M) share price this morning when it releases its half year results. The infant formula and fresh milk company expects to report revenue in the range of NZ$780 million to NZ$800 million with an EBITDA margin of 31% to 32%. This implies an EBITDA range of NZ$241.8 million to NZ$256 million.
Gold price flat.
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after a subdued night of trade for the gold price. According to CNBC, the spot gold price flat at US$1,650.00 an ounce after the U.S. dollar strengthened.
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 A2 Milk and AFTERPAY T FPO. 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.