5 things to watch on the ASX 200 on Thursday

Here’s what to expect on the ASX 200 on Thursday…

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On Wednesday the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.3% to 7,417 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to rebound

The Australian share market looks set to rebound on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.45% higher this morning. This follows a strong night of trade on Wall Street, which saw the Dow Jones rise 0.7%, the S&P 500 climb 0.85%, and the Nasdaq jump 0.8%.

Telstra Strategy Day

The Telstra Corporation Ltd (ASX: TLS) share price will be on watch today when it holds its highly anticipated Strategy for the Future Investor Day event. A note out of Goldman Sachs reveals that it expects this to be “a continuation of the current strategy (simplicity and customer focus, network leadership and improved efficiency) but with a tilt towards growth (such as Energy, Health, FWA, Enterprise 5G).”

Oil prices surge higher

It could be a very good day for energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) after oil prices surged higher. According to Bloomberg, the WTI crude oil price is up 3.1% to US$72.63 a barrel and the Brent crude oil price has risen 2.5% to US$75.46 a barrel. Oil prices climbed after US data revealed a greater than expected drawdown of supplies.

Gold price softens

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued day after the gold price dropped. According to CNBC, the spot gold price is down 0.7% to US$1,794.70 an ounce. US Federal Reserve tapering uncertainty is weighing on the safe haven asset.

Shares going ex-dividend

A number of shares are going ex-dividend on Thursday and could trade lower. This includes investment company Seven Group Holdings Ltd (ASX: SVW), casino operator SKYCITY Entertainment Group Limited (ASX: SKC), and New Zealand telco Spark New Zealand Ltd (ASX: SPK).

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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. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. 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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