On Wednesday the S&P/ASX 200 Index (ASX: XJO) was out of form again and edged lower. The benchmark index fell 0.1% to 7,502.1points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to fall on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 51 points or 0.7% lower this morning. This follows a disappointing night of trade on Wall Street which saw the Dow Jones drop 1.1%, the S&P 500 fall 1.1%, and the Nasdaq tumble 0.9% lower. US markets tumbled after the latest US Federal Reserve meeting minutes gave an insight into its tapering plans.
Treasury Wine full year results
The Treasury Wine Estates Ltd (ASX: TWE) share price will be on watch today when it releases its full year results. This will be the first annual result since the wine company was effectively shut out of China. According to a note out of Goldman Sachs, its analysts expect Treasury Wine to post EBITS of $508.2 million. This compares to its guidance of $495 million to $515 million.
Oil prices sink
Energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could have a difficult day after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 2.9% to US$64.63 a barrel and the Brent crude oil price has fallen 2.2% to US$67.49 a barrel. Rising COVID-19 cases globally is weighing on the demand outlook.
Gold price flat
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued day after the gold price traded flat. According to CNBC, the spot gold price is steady at US$1,787.7 an ounce. COVID fears were offset by concerns the US Federal Reserve could reduce stimulus next year. Evolution is also due to release its results today.
Origin FY 2021 results
The Origin Energy Ltd (ASX: ORG) share price could be on the move today when it releases its full year results. Goldman Sachs expects revenue of $955 million, which will be the lower end of Origin's guidance range of $940 million to $1,020 million. Though, it believes the main focus will be on management's commentary. It expects management to confirm that Energy Markets have troughed and should steadily rebuild from FY 2023.
