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5 things to watch on the ASX 200 on Friday

On Thursday the S&P/ASX 200 Index (ASX: XJO) gave back its morning gains to end the day slightly lower at 5,217.1 points.

Will things be better on Friday? Here are five things to watch:

ASX 200 poised to push higher.

The S&P/ASX 200 index looks set for a positive finish to the week. According to the latest SPI futures, the ASX 200 is expected to open the day 0.2% or 11 points higher this morning. This follows a mixed night of trade on Wall Street which saw the Dow Jones rise 0.2%, the S&P 500 edge 0.05% lower, and the Nasdaq index end flat.

Oil prices rebound again.

Energy producers including Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could be on the charge again after oil prices rebounded further. According to Bloomberg, the WTI crude oil price is up 23.5% to US$17.02 a barrel and the Brent crude oil price has risen 7.3% to US$21.86 a barrel. Oil prices lifted amid continued production cuts and rising U.S.-Iranian tensions.

Gold price surges higher.

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) could be on the rise again today after the gold price pushed higher. According to CNBC, the spot gold price is up 0.7% to US$1,750.20 an ounce. The gold price hit a one-week high overnight on hopes of further U.S. stimulus.

Carsales rated as neutral.

The Carsales.Com Ltd (ASX: CAR) share price has had a neutral rating and $14.70 price target slapped on it by analysts at Goldman Sachs. They were pleased with the auto listings company’s trading update, but not quite enough to upgrade its shares to a buy rating. Though, this price target implies potential upside of 15% over the next 12 months.

Telstra named as underappreciated defensive option.

The Telstra Corporation Ltd (ASX: TLS) share price could be on the move after Goldman Sachs spoke very positively about the telco giant. Its analysts named Telstra as one of several underappreciated defensives that should perform well through the crisis. It has a buy rating and $4.20 price target on the company’s shares.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia has recommended carsales.com 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.

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