5 things to watch on the ASX 200 on Friday

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

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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.

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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 Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. and Treasury Wine Estates 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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