5 things to watch on the ASX 200 on Thursday 1 October 2020 // The Motley Fool Australia

5 things to watch on the ASX 200 on Thursday

Mesoblast limited (ASX:MSB) and Northern Star Resources Ltd (ASX:NST) shares will be on watch on the ASX 200 on Thursday…

James Mickleboro

Author Bio James Mickleboro is an investment writer and analyst who has worked with The Motley Fool Australia for 10 years, covering ASX shares, market news, broker research, dividends, growth stocks, and long-term investing ideas. Over that time, James has written extensively about Australian equities and developed a particular focus on helping everyday investors understand the stories behind share price moves, company announcements, broker views, and broader market trends. His best investment recommendation was identifying Afterpay while it was still a small-cap growth share, before its rise into one of Australia’s biggest technology success stories. His worst investment lesson came from CSL Ltd (ASX: CSL), where he was burnt by believing management could turn the business around sooner than the market ultimately allowed. Areas of Expertise ASX shares Growth and dividend investing Broker research Interpreting company announcements Market news Portfolio strategy Long-term wealth creation Education Bachelor of Politics, Philosophy and Economics. CFA Institute Social Media LinkedIn Favorite Investment Quote "It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price." — Warren Buffett

Published October 1, 2020 7:07 am AEST

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:

Woman in pink sweater lying on dock with binoculars to her eyes — Image source: Getty Images

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.

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