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 well and truly out of form and sank notably lower. The benchmark index fell 1.1% to 7,196.7 points.

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

ASX 200 expected to rise

The Australian share market looks set to rise on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 14 points or 0.2% higher this morning. This follows a mixed night of trade on Wall Street, which saw the Dow Jones rise 0.25%, the S&P 500 climb 0.15%, and the Nasdaq fall 0.25%.

Oil prices fall

It could be a softer day for energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) after oil prices pulled back. According to Bloomberg, the WTI crude oil price is down 0.85% to US$74.64 a barrel and the Brent crude oil price has fallen 0.9% to US$78.37 a barrel. Traders appear to have been taking profit after some strong gains in recent sessions.

Dividends being paid

Today is payday for shareholders of a number of ASX 200 shares. Among the companies paying their latest dividends are Bendigo and Adelaide Bank Ltd (ASX: BEN), CSL Limited (ASX: CSL), Fortescue Metals Group Limited (ASX: FMG), Newcrest Mining Ltd (ASX: NCM), and Ramsay Health Care Limited (ASX: RHC).

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price dropped again. According to CNBC, the spot gold price is down 0.7% to US$1,725.20 an ounce. The precious metal continues to struggle on growing confidence that the U.S. Federal Reserve will soon wind down its economic support measures.

Iron ore price rises

BHP Group Ltd (ASX: BHP) and Fortescue shares could have a better day today after the benchmark iron ore price continued to recover. According to Metal Bulletin, the spot 62% fines iron ore price rose 1.8% to US$114.13 a tonne during overnight trade.

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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 CSL Ltd. The Motley Fool Australia owns shares of and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool Australia has recommended Ramsay Health Care 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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