5 things to watch on the ASX 200 on Friday

Appen Ltd (ASX:APX) and Newcrest Mining Ltd (ASX:NCM) shares will be on watch on the ASX 200 on Friday…

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On Thursday the S&P/ASX 200 Index (ASX: XJO) was on form again and stormed notably higher. The benchmark index rose 1% to 6,998.8 points.

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

ASX 200 expected to edge lower

The Australian share market looks set to end the week in a subdued fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% lower this morning. This is despite a solid night of trade on Wall Street, which saw the Dow Jones rise 0.2%, the S&P 500 climb 0.4%, and the Nasdaq storm 1% higher.

Oil prices mixed

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch after a mixed night of trade for oil prices. According to Bloomberg, the WTI crude oil price is flat at US$59.77 a barrel and the Brent crude oil price is up 0.2% to US$63.30 a barrel. An unexpected surge in US gasoline inventories held back oil prices.

Gold price storms higher

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a solid day of trade after the gold price stormed higher. According to CNBC, the spot gold price is up 0.9% to US$1,757.40 an ounce. The precious metal climbed close to its one-month high after US bond yields softened.

Tech shares to rise?

It could be a good day for tech shares such as Appen Ltd (ASX: APX) and Xero Limited (ASX: XRO) after their US counterparts on the Nasdaq index raced higher overnight. The tech-focused index outperformed with a 1% gain. This appears to have been driven by a pullback in bond yields.

Dividends being paid

It is pay day for the shareholders of a number of ASX 200 shares on Friday. Among the companies paying dividends are Atlas Arteria Group (ASX: ALX), Link Administration Holdings Ltd (ASX: LNK) Reliance Worldwide Corporation Ltd (ASX: RWC), Spark New Zealand Ltd (ASX: SPK), and WiseTech Global Ltd (ASX: WTC).

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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 Appen Ltd, Link Administration Holdings Ltd, Reliance Worldwide Limited, WiseTech Global, and Xero. The Motley Fool Australia has recommended Link Administration Holdings Ltd and Reliance Worldwide Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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