On Thursday the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark index rose 0.6% to 6,042.2 points.
Will the market be able to build on this on Friday? Here are five things to watch:
ASX 200 to edge lower.
The ASX 200 index looks set to end the week in a subdued fashion. According to the latest SPI futures, the benchmark index is expected to open the day 7 points or 0.1% lower this morning. This is despite a positive night of trade on Wall Street which saw the Dow Jones rise 0.6%, the S&P 500 climb 0.65%, and the Nasdaq index storm 1% higher. This follows the release of better than expected U.S. jobs data.
Oil prices mixed.
Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be on watch today after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price has fallen 0.3% to US$42.05 a barrel and the Brent crude oil price is trading flat at US$45.18 a barrel. Demand concerns were weighing on oil prices during overnight trade.
Gold price continues its charge.
Gold miners including Evolution Mining Ltd (ASX: EVN) and Saracen Mineral Holdings Limited (ASX: SAR) could be on the rise on Friday after the gold price continued its charge. According to CNBC, the spot gold price rose 1.4% to US$2,077.70 an ounce. Concerns about global economic growth has supported the precious metal.
REA Group results.
The REA Group Limited (ASX: REA) share price will be on watch this morning when it hands in its full year results. According to a note out of Goldman Sachs, it is expecting the property listings company to report an 8% decline in revenue to $804 million and a 9% reduction in EBITDA to $456 million. It will then be looking for guidance in the range of $525 million for EBITDA in FY 2021.
News Corp result.
Major REA Group shareholder, News Corp (ASX: NWS) is also scheduled to release its results this morning. The same broker note reveals that Goldman Sachs is expecting the media giant to report a 30% decline in EBITDA to $886 million. The broker is also expecting a rebound in its EBITDA in FY 2021. It will be looking for guidance of $1,085 million in FY 2021.
