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) gave back its morning gains and dropped into the red. The benchmark index fell 0.6% to 7,206.5 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 10 points or 0.15% higher this morning. This follows a mildly positive night of trade on Wall Street, which late on sees the Dow Jones up 0.05%, the S&P 500 up 0.15%, and the Nasdaq trading 0.2% higher.

Oil prices fall

Energy shares including Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could come under pressure after oil prices pulled back. According to Bloomberg, the WTI crude oil price is down 2.35% to US$77.09 a barrel and the Brent crude oil price has fallen 2.1% to US$80.79 a barrel. News that US stockpiles have increased put pressure on oil prices.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a positive day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.2% to US$1,765 an ounce. A slight retreat in US bond yields boosted the safe haven asset.

Dividends being paid

Today is payday for shareholders of a number of ASX 200 shares. Among the companies paying their latest dividends are Breville Group Ltd (ASX: BRG), InvoCare Limited (ASX: IVC), South32 Ltd (ASX: S32), Super Retail Group Ltd (ASX: SUL), and Wesfarmers Ltd (ASX: WES).

NAB shares rated as buys

The National Australia Bank Ltd (ASX: NAB) share price could be in the buy zone according to analysts at Goldman Sachs. In response to APRA’s targeted serviceability restrictions, the broker has retained its conviction buy rating and $30.62 price target on the banking giant’s shares.

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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 Super Retail Group Limited. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited and Wesfarmers Limited. The Motley Fool Australia has recommended InvoCare 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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