On Wednesday the S&P/ASX 200 Index (ASX: XJO) was on form again and recorded a solid gain. The benchmark index rose 0.4% to 7,531.9 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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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 13 points or 0.2% lower today. This is despite it being a positive night of trade on Wall Street. Overnight, the Dow Jones rose 0.1%, the S&P 500 climbed 0.2%, and the Nasdaq rose 0.15%.
A2 Milk results
The A2 Milk Company Ltd (ASX: A2M) share price will be on watch today when it releases one of the most highly anticipated results of the month. After downgrading its guidance four times during FY 2021, the struggling infant formula company is expecting to report revenue of NZ$1.25 billion with EBITDA of NZ$132 million to NZ$150 million. The latter will be down 73% to 76% year on year. An update on current trading conditions and its expectations for FY 2022 will also be of great interest.
Oil prices rise again
Energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could have a good day after oil prices rose again overnight. According to Bloomberg, the WTI crude oil price is up 1.1% to US$68.28 a barrel and the Brent crude oil price has risen 1.6% to US$72.17 a barrel. Strong demand for US fuel gave prices a further boost.
Gold price falls
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price tumbled lower. According to CNBC, the spot gold price is down 0.9% to US$1,792.6 an ounce. Traders appear nervous ahead of the next US Federal Reserve meeting.
Appen half year results
The Appen Ltd (ASX: APX) share price will be on watch when it releases its half year results today. A recent note out of Citi has suggested that the artificial intelligence data services company could fall well short of expectations during the half. Citi is expecting EBITDA of US$27 million for the half, which is ~20% lower than consensus estimates. Nevertheless, Citi has a buy rating and $18.80 price target on the company's shares.
