On Thursday the S&P/ASX 200 index (ASX: XJO) fell heavily after the U.S. announced its European travel ban. The benchmark index fell 7.4% to 5,304.6 points.
Will the local share market be able to bounce back from this on Friday? Here are five things to watch:
ASX 200 expected to sink lower.
The S&P/ASX 200 index is poised to sink lower again on Friday and end the week on a bitterly disappointing note. According to the latest SPI futures, the benchmark index is due to open the day 7.1% or 394 points lower this morning. In late trade on Wall Street the Dow Jones is down 8.3%, the S&P 500 has fallen 8%, and the Nasdaq has dropped 7.8%.
Oil prices crash lower again.
Energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could tumble lower today after oil prices crashed lower again. According to Bloomberg, the WTI crude oil price is down 5.6% to US$31.13 a barrel and the Brent crude oil has dropped 8.6% to US$32.72 a barrel. This means oil prices are on course for their worst week in a decade.
Gold price sinks lower.
Saracen Mineral Holdings Limited (ASX: SAR), St Barbara Ltd (ASX: SBM), and the rest of the gold miners could come under pressure today despite the heavy declines on Wall Street. According to CNBC, the spot gold price has fallen 4.5% to US$1,568.10 an ounce.
The Santos Ltd (ASX: STO) share price will be one to watch on Friday after announcing that it has agreed to sell a 25% interest in Darwin LNG and BayuUndan to SK E&S for US$390 million. The sale is conditional on Santos completing the acquisition of ConocoPhillips’ northern Australia and Timor-Leste portfolio which was announced in October.
Ramsay ACCC update.
The Ramsay Health Care Limited (ASX: RHC) share price will be on watch today after the Federal Court dismissed proceedings that were brought by the Australian Competition and Consumer Commission (ACCC) against it. According to the release, the judge found that Ramsay had not engaged in anti-competitive conduct in the Coffs Harbour region in relation to the proposed establishment of a competing private day surgery facility.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ramsay Health Care Limited. 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.