On Thursday the S&P/ASX 200 index continued its disappointing run and tumbled lower again. The benchmark index fell a further 0.75% to 6,657.9 points.
Will the local share market be able to bounce back from this on Friday? Here are five things to watch:
ASX 200 poised to sink lower again.
The S&P/ASX 200 index looks set to finish the week on a very disappointing note after global markets continued to be sold off. According to the latest SPI futures, the ASX 200 is expected to open the day 94 points of 1.4% lower. In late trade on Wall Street the Dow Jones is down 2.4%, the S&P 500 index has fallen 2.4%, and the Nasdaq index is 2.7% lower.
NEXTDC half year results.
The NEXTDC Ltd (ASX: NXT) share price will be on watch this morning when it releases its half year results. According to a note out of Goldman Sachs, it expects the data centre operator to report half year revenue of $94 million and EBITDA of $47 million. This represents growth of 12% in both metrics compared to the prior corresponding period. This is expected to be driven by an 18% increase in customers and an 11% lift in contracted capacity.
Oil prices fall into bear market
Energy shares such as Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could come under pressure after oil prices sank to their lowest levels in over 12 months and into a bear market. According to Bloomberg, the WTI crude oil price has fallen 3.2% to US$47.19 a barrel and the Brent crude oil price has dropped 2.1% to US$52.29 a barrel.
Gold price flat
Gold miners including Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) will be on watch today after the gold price traded flat despite the global market volatility. According to CNBC, the spot gold price is flat at US$1,642.20 an ounce this morning.
Harvey Norman result.
The Harvey Norman Holdings Limited (ASX: HVN) share price could be on the move today when it releases its half year results. Expectations are high for the retailer after a strong half year update by arch rival JB Hi-Fi Limited (ASX: JBH) earlier this month.
