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5 things to watch on the ASX 200 on Friday

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.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. 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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