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5 things to watch on the ASX 200 on Friday

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.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group 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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