On Thursday the S&P/ASX 200 Index (ASX: XJO) followed the lead of U.S. markets and tumbled lower. The benchmark index dropped 2% to 5,154.3 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 rebound.
It looks set to be a positive end to the week for the ASX 200 index. According to the latest SPI futures, the benchmark index is expected to jump 99 points or 2% at the open. In late trade on Wall Street the Dow Jones is up 1.4%, the S&P 500 has climbed 1.5%, and the Nasdaq index is 0.9% higher.
Oil prices rocket.
Energy producers including Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could charge higher today after a fantastic night for oil prices. According to Bloomberg, the WTI crude oil price is up 22% to US$24.77 a barrel and the Brent crude oil price is up 21.2% to US$29.98 a barrel. News that Saudi Arabia and Russia could be about to cut production caused prices to spike.
Gold price jumps.
Gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could end the week on a high after the gold price jumped. According to CNBC, the spot gold price is up 3.2% to US$1,642.20 an ounce. This was driven by increasing demand for safe haven assets after a lift in U.S. jobless claims.
NEXTDC to return.
The NEXTDC Ltd (ASX: NXT) share price will be on watch on Friday when it returns from its trading halt. The data centre operator requested a trading halt whilst it undertakes a fully underwritten institutional placement to raise $672 million. These funds will be used partly to develop a new Sydney data centre in order to meet increasing demand.
Crown and Harvey Norman dividend updates.
The Crown Resorts Ltd (ASX: CWN) share price and the Harvey Norman Holdings Limited (ASX: HVN) share price will be on watch today after dividend updates after the market close on Thursday. Crown revealed that it has deferred the payment of its dividend from today until April 17. Whereas Harvey Norman has decided to cancel its interim dividend.
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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of and has recommended Crown Resorts 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.
