On Wednesday the S&P/ASX 200 Index (ASX: XJO) had a day to forget and crashed notably lower. The benchmark index dropped 2.3% lower to 5,815.90 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to rebound.
The ASX 200 is expected to rebound on Thursday following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 11 points or 0.2% higher this morning. Overnight the Dow Jones rose 1.2%, the S&P 500 climbed 0.8%, and the Nasdaq pushed 0.75% higher.
Mesoblast FDA update.
The Mesoblast limited (ASX: MSB) share price will be in focus today. Earlier this year the United States Food and Drug Administration (FDA) set Wednesday evening as the review date for its remestemcel-L (RYONCIL) product. Mesoblast is seeking approval to use it as a treatment for paediatric patients with steroid-refractory acute graft versus host disease.
Oil prices mixed
Energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be on watch on Thursday after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price rose 1.4% to US$39.85 a barrel and the Brent crude oil price has dropped 0.2% to US$40.95 a barrel. U.S. oil jumped higher amid optimism over inventory data.
Gold price tumbles.
Gold miners such as Northern Star Resources Ltd (ASX: NST) and Saracen Mineral Holdings Limited (ASX: SAR) could drop lower today after the spot gold price weakened. According to CNBC, the spot gold price is down 0.7% to US$1,889.70 an ounce. This meant that the precious metal had its worst month in almost four years.
Dividends being paid.
A number of popular dividends shares will be rewarding their shareholders with pay checks on Thursday. Eligible shareholders of network services company Service Stream Limited (ASX: SSM) and conglomerate Wesfarmers Ltd (ASX: WES) are scheduled to receive their dividends later today. They are paying 5 cents and 95 cents per share dividends, respectively.
