On Thursday the S&P/ASX 200 Index (ASX: XJO) was back on form and charged higher. The benchmark index rose 0.6% to 7,460.2 points.
Will the market be able to build on this on Friday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 14 points or 0.2% lower this morning. This follows a mixed night on Wall Street, which saw the Dow Jones fall 0.2%, the S&P 500 drop 0.15%, and the Nasdaq rise 0.1%.
Telstra shares rated as a buy
The Telstra Corporation Ltd (ASX: TLS) share price could be good value according to analysts at Goldman Sachs. In response to its T25 update, the broker retained its buy rating and $4.40 price target on the telco giant’s shares. It commented: “Telstra held its T25 Investor Day, with the key strategic/financial updates consistent with our prior expectations. FY25 targets for strong earnings growth were provided, implying a high degree of confidence in the outlook, given expectations for mid-single digit EBITDA growth p.a. and a similar quantum of mobile service revenue growth.”
Oil prices mixed
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is flat at US$72.60 a barrel and the Brent crude oil price is up 0.25% to US$75.65 a barrel. An easing storm threat in the US weighed on oil prices.
Carsales goes ex-div, dividends being paid
The Carsales.Com Ltd (ASX: CAR) share price could trade lower today after going ex-dividend for its 22.5 cents per share fully franked final dividend. Elsewhere, Fletcher Building Limited (ASX: FBU), Pinnacle Investment Management Group Ltd (ASX: PNI), and Tabcorp Holdings Limited (ASX: TAH) shareholders can look forward to being paid their dividends this morning.
Gold price sinks
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could come under pressure today after the gold price dropped notably lower. According to CNBC, the spot gold price is down 2.3% to US$1,754.10 an ounce. This was driven by a rise in the US dollar thanks to strong US economic data.