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5 things to watch on the ASX 200 on Friday

ASX share
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The S&P/ASX 200 Index (ASX: XJO) was back on form on Thursday. The benchmark index rebounded from Wednesday’s sell off and recorded a gain of 0.5% to 5,908.5 points.

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

ASX 200 poised to slide lower.

The ASX 200 looks set to end the week on a disappointing note. According to the latest SPI futures, the benchmark index is expected to slide 78 points or 1.3% lower at the open. This follows a poor night of trade on Wall Street which saw the Dow Jones fall 1.45%, the S&P 500 drop 1.75%, and the Nasdaq tumble 2% lower.

Oil prices drop lower.

Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could end the week in the red after oil prices dropped lower. According to Bloomberg, the WTI crude oil price is down 2.6% to US$37.07 a barrel and the Brent crude oil price has fallen 2.4% to US$39.83 a barrel. Traders were selling oil after inventories started to build again.

Nearmap downgraded.

The Nearmap Ltd (ASX: NEA) share price is fully valued according to analysts at Goldman Sachs. This morning the broker downgraded the company’s shares to a neutral rating with a $2.95 price target. Goldman made the move following the announcement of its capital raising and a sharp rise in the Nearmap share price over the last few months.

Gold price softens.

Gold miners Newcrest Mining Ltd (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price edged lower. According to CNBC, the spot gold price is down slightly to US$1,953.90 an ounce. The precious metal started the day strongly but gave back its gains late in the last session.

Cleanaway goes ex-dividend.

The Cleanaway Waste Management Ltd (ASX: CWY) share price is going ex-dividend this morning and could trade that extra bit lower. The waste management company’s shareholders can now look forward to being paid this dividend on 6 October. Elsewhere, shareholders of Bapcor Ltd (ASX: BAP) and JB Hi-Fi Limited (ASX: JBH) will be getting paid their dividends later today.

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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 Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended Bapcor. 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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