5 things to watch on the ASX 200 on Friday

It looks set to be a busy day for the ASX 200…

| More on:
builder peeking over board as if watching asx share price

Image source: Getty Images

On Thursday the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.1% to 7,511.1 points.

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

ASX 200 futures pointing slightly higher

The Australian share market could end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points higher this morning. This follows a very strong night on Wall Street, which saw the Dow Jones rise 0.8%, the S&P 500 climb 0.6%, and the Nasdaq storm 0.8% higher.

REA Group FY 2021 results

All eyes will be on the REA Group Limited (ASX: REA) share price this morning when it releases its FY 2021 results. According to a note out of Goldman Sachs, its analysts expect a 12% increase in revenue to $915 million and a 20% jump in EBITDA to $571 million. The latter is ahead of the market consensus estimate of $560 million. On the bottom line, a 27% increase in net profit after tax to $343 million is expected. Goldman has a buy rating and $198.00 price target on the company’s shares.

Oil prices rise

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could end the week on a solid note after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.6% to US$69.22 a barrel and the Brent crude oil price is up 1.4% to US$71.36 a barrel. Oil prices rose amid tensions in the Middle East.

ResMed Q4 and full year update

The ResMed Inc (ASX: RMD) share price will be one to watch today following the release of its fourth quarter and full year update. The sleep treatment focused medical device company has reported an 8% increase in full year to US$3.2 billion and a 13% jump in non-GAAP net income to US$780.6 million.

Gold price falls

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.4% to US$1,806.70 an ounce. Traders were selling gold amid concerns that the US Fed could begin tapering its asset purchases later this year.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended REA Group Limited and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News