5 things to watch on the ASX 200 on Friday

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

| More on:
A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements

Image source: Getty Images

On Thursday, the S&P/ASX 200 Index (ASX: XJO) fought hard but ultimately fell short of recording a gain. The benchmark index fell 0.15% to 7,225.2 points.

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

ASX 200 expected to rebound

The Australian share market looks set to end the week in a positive fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 61 points or 0.85% higher this morning. This follows a strong night of trade on Wall Street, which late on sees the Dow Jones up 2.1%, the S&P 500 up 1.7% and the Nasdaq up 0.9%.

CSL acquisition news

The CSL Limited (ASX: CSL) share price will be on watch today amid reports the company is in talks to acquire Swiss-based Vifor Pharma for ~$10 billion. The biotherapeutics giant is expected to partly fund the deal with a $4 billion equity raising. Vifor Pharma is a leader in iron deficiency, nephrology and cardio-renal therapies.

Oil prices rise

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could end the week strongly after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.8% to US$66.11 a barrel and the Brent crude oil price is up 0.8% to US$69.41 a barrel. Oil prices rose despite OPEC revealing that it will continue to increase supply in January.

BHP to proceed with unification

The BHP Group Ltd (ASX: BHP) share price will be on watch today after announcing plans to proceed with its unification. The BHP Board believes unification is in the best interests of shareholders. It will result in a corporate structure that is simpler and more efficient, reduces duplication and streamlines BHP’s governance and internal processes. This will see the BHP ASX listing become its primary listing.

Gold price falls

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a difficult finish to the week after the gold price tumbled lower. According to CNBC, the spot gold price is down 1% to US$1,766.6 an ounce. The gold price fell after the US Federal Reserve’s hawkish rhetoric dampened its appeal.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News