5 things to watch on the ASX 200 on Friday

Here’s what to expect on the final day of the week…

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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.

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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 PINNACLE FPO. The Motley Fool Australia owns shares of and has recommended PINNACLE FPO and 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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