On Thursday the S&P/ASX 200 Index (ASX: XJO) rebounded strongly from recent volatility and stormed higher. The benchmark index climbed 1.9% to 7,332.2 points.
Will the market be able to build on this on Friday? Here are five things to watch:
ASX 200 expected to tumble
The Australian share market looks set to give back a lot of yesterday's gains on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 119 points or 1.6% lower this morning. This follows a disappointing night of trade on Wall Street, which saw the Dow Jones sink 1.6%, the S&P 500 fall 1.2%, and the Nasdaq drop 0.45%.
News Corp given buy rating
The News Corp (ASX: NWS) share price could be a bargain buy according to the team at Goldman Sachs. According to a note, the broker has retained its conviction buy rating and $44.50 price target on the media giant's shares. This followed the release of New Corps' investor update this week which revealed its three-year growth plan.
Oil prices mixed
Energy producers including 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 up 0.25% to US$75.02 a barrel and the Brent crude oil price is down 0.2% to US$78.51 a barrel. Traders appear undecided on where oil prices go from here.
Dividends being paid
A number of popular ASX 200 shares will be paying their latest dividends today. Among the shares paying dividends are Monadelphous Group Limited (ASX: MND), Origin Energy Ltd (ASX: ORG), Pro Medicus Limited (ASX: PME), and Treasury Wine Estates Ltd (ASX: TWE).
Gold price surges higher
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a positive end to the week after the gold price surged higher. According to CNBC, the spot gold price is up 2% to US$1,758.10 an ounce. A weaker dollar and market volatility appear to be boosting the precious metal.
