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).