On Thursday the S&P/ASX 200 Index (ASX: XJO) returned to form and stormed notably higher. The benchmark index climbed 1.3% to 5,851.1 points.
Will the market be able to build on this on Friday? Here are five things to watch:
ASX 200 expected to drop lower.
The ASX 200 looks set to end a fantastic week with a day in the red. According to the latest SPI futures, the benchmark index is expected to open the day 19 points or 0.3% lower this morning. This follows a weak night of trade on Wall Street which saw the Dow Jones fall 0.6%, the S&P 500 drop 0.2%, and the Nasdaq fall 0.45%.
Oil prices rebound.
Energy producers such as Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could be on the rise today after oil prices rebounded. According to Bloomberg, the WTI crude oil price climbed 2.5% to US$33.63 a barrel and the Brent crude oil price rose 1.5% to US$35.27 a barrel. Higher U.S. gasoline demand supported oil prices.
Gold price pushes higher.
Gold miners such as Northern Star Resources Ltd (ASX: NST) and St Barbara Ltd (ASX: SBM) will be on watch after the gold price pushed higher. According to CNBC, the spot gold price is up 0.3% to US$1,731.70 an ounce. The precious metal pushed higher on concerns over U.S.-China tensions.
Costa annual general meeting.
The Costa Group Holdings Ltd (ASX: CGC) share price will be one to watch this morning when the horticulture company holds its annual general meeting. Costa is very likely to provide an update on how it is performing during the pandemic. Last month the company withdrew its guidance because of the crisis.
Nearmap rated as a buy.
The Nearmap Ltd (ASX: NEA) share price could be on the move again on Friday after analysts at Goldman Sachs reaffirmed their buy rating on its shares. This follows the release of the aerial imagery technology and location data company's market update on Thursday. The broker has increased its price target on Nearmap's shares to $2.55.
