5 things to watch on the ASX 200 on Thursday

Here's what to expect on the ASX 200 on Thursday…

James Mickleboro

Author Bio James Mickleboro is an investment writer and analyst who has worked with The Motley Fool Australia for 10 years, covering ASX shares, market news, broker research, dividends, growth stocks, and long-term investing ideas. Over that time, James has written extensively about Australian equities and developed a particular focus on helping everyday investors understand the stories behind share price moves, company announcements, broker views, and broader market trends. His best investment recommendation was identifying Afterpay while it was still a small-cap growth share, before its rise into one of Australia’s biggest technology success stories. His worst investment lesson came from CSL Ltd (ASX: CSL), where he was burnt by believing management could turn the business around sooner than the market ultimately allowed. Areas of Expertise ASX shares Growth and dividend investing Broker research Interpreting company announcements Market news Portfolio strategy Long-term wealth creation Education Bachelor of Politics, Philosophy and Economics. CFA Institute Social Media LinkedIn Favorite Investment Quote "It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price." — Warren Buffett

Published October 7, 2021 6:37 am AEDT

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:

Investor sitting in front of multiple screens watching share prices — Image source: Getty Images

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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