5 things to watch on the ASX 200 on Thursday

Afterpay Ltd (ASX:APT) and Beach Energy Ltd (ASX:BPT) shares will be on watch on the ASX 200 on Thursday. Here’s what to watch…

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It was a disappointing day of trade for the S&P/ASX 200 Index (ASX: XJO) on Wednesday. The benchmark index followed the lead of U.S. markets and dropped 2.15% to 5,878.6 points.

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

ASX 200 expected to rebound.

It looks set to be a much better day for the ASX 200 on Thursday after Wall Street rebounded overnight. According to the latest SPI futures, the benchmark index is expected to jump 78 points or 1.3% higher at the open. On Wall Street the Dow Jones rose 1.6%, the S&P 500 climbed 2%, and the Nasdaq stormed 2.7% higher.

Oil prices recover.

It could also be a better day for energy producers Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) on Thursday after oil prices recovered some of their recent declines. According to Bloomberg, the WTI crude oil price is up 2.9% to US$37.84 a barrel and the Brent crude oil price has risen 2.1% to US$40.60 a barrel.

Tech shares to rebound

Australian tech shares such as Afterpay Ltd (ASX: APT) and Nearmap Ltd IASX: NEA) could bounce back strongly on Thursday after their U.S. counterparts charged higher overnight. The local tech sector has a tendency to follow the lead of the technology-focused Nasdaq index, which jumped 2.7% on Wednesday night. This could potentially be a sign that the tech rout is over.

Gold price storms higher.

Gold miners Newcrest Mining Ltd (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch on Thursday after the gold price stormed higher. According to CNBC, the spot gold price is up 0.7% to US$1,957.00 an ounce. This follows the softening of the U.S. dollar and concerns over the AstraZeneca coronavirus vaccine candidate.

CSL and others going ex-dividend.

A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes biotech giant CSL Limited (ASX: CSL) for its 148.1 cents per share dividend, which will then be paid to shareholders on 9 October. Also going ex-dividend are engineering company Monadelphous Group Limited (ASX: MND), healthcare technology company Pro Medicus Limited (ASX: PME), and mining giant South32 Ltd (ASX: S32).

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and Nearmap Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Nearmap Ltd. 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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