5 things to watch on the ASX 200 on Friday

Will it be a better day for the ASX 200 on Friday?

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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.

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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. owns shares of and has recommended WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia owns shares of and has recommended WiseTech Global. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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