On Thursday the S&P/ASX 200 Index (ASX: XJO) was well and truly out of form and dropped notably lower. The benchmark index fell 1.9% to 7,369.5 points.
Will the market be able to bounce back from this on Friday? Here are five things to watch:
ASX 200 expected to rebound
The Australian share market looks set to end the week on a better note. According to the latest SPI futures, the ASX 200 is expected to open the day 35 points or 0.5% higher this morning. This follows a better than feared night of trade on Wall Street, which saw the Dow Jones fall 0.4%, the S&P 500 drop 0.45%, and the Nasdaq down 0.25%.
Shares going ex-dividend
A number of shares are going ex-dividend this morning and could trade lower. This includes waste management company Cleanaway Waste Management Ltd (ASX: CWY) and logistics solutions platform provider WiseTech Global Ltd (ASX: WTC). Elsewhere, eligible JB Hi-Fi Limited (ASX: JBH) shareholders can look forward to receiving its 107 cents per share dividend this morning.
Oil prices fall
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could end the week on a disappointing note after oil prices tumbled lower overnight. According to Bloomberg, the WTI crude oil price is down 1.9% to US$68.02 a barrel and the Brent crude oil price is down 1.7% to US$71.34 a barrel. News that China intends to tap its reserves weighed on prices.
ResMed rated as neutral
The ResMed Inc. (ASX: RMD) share price could be fully valued according to analysts at Goldman Sachs. In response to its investor day event, the broker has retained its neutral rating and $36.20 price target. This compares to the current ResMed share price of $40.30. Goldman is a big fan of the company but is struggling with its current valuation.
Gold price rises
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.2% to US$1,796.90 an ounce. A softening US dollar gave the precious metal a boost.