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5 things to watch on the ASX 200 on Friday

On Thursday the S&P/ASX 200 Index (ASX: XJO) had a poor day of trade and ended its winning streak. The benchmark index fell 0.4% to 5,550.4 points.

Will the market be able to bounce back from this on Friday? Here are five things to watch:

ASX 200 expected to edge lower.

The ASX 200 index looks set to edge lower on Friday. According to the latest SPI futures, the benchmark index is expected to open the day 1 point lower. This follows a weak night on Wall Street which saw the Dow Jones drop 0.4%, the S&P 500 fall 0.8%, and the Nasdaq tumble 1% lower.

Sydney Airport AGM.

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price will be on watch today when it holds its (virtual) annual general meeting. The airport operator may provide investors with an idea of when it expects travel markets to recover. Investors will also no doubt be seeking clarity on its dividend plans for the near term.

Oil prices rise again.

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be on the rise after another positive night of trade for oil prices. According to Bloomberg, the WTI crude oil price is up 1.4% to US$33.97 a barrel and the Brent crude oil price has risen 0.95% to US$36.09 a barrel. Oil prices hit their highest levels since March thanks to recovering demand and lower U.S. inventories.

Gold price sinks lowers.

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could end the week with a day in the red after the gold price sank lower. According to CNBC, the spot gold price fell 1.45% to US$1,726.80 an ounce. This was driven by traders taking profit and switching to cash.

Goldman Sachs keeps Telstra on its conviction buy list.

The Telstra Corporation Ltd (ASX: TLS) share price could be heading higher according to analysts at Goldman Sachs. This morning the broker has retained its conviction buy rating and trimmed the price target on its shares slightly to $4.05. Goldman has been looking into the sustainability of its 16 cents per share dividend and concluded that it sees little risk of a cut in the next three years.

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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. 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.