On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form and charged higher. The benchmark index rose 0.3% to 7,387.6 points.
Will the market be able to build on this on Friday? Here are five things to watch:
ASX 200 expected to rise
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 44 points or 0.6% higher this morning. This follows a solid night of trade on Wall Street, which late on sees the Dow Jones up 0.8%, the S&P 500 up 0.8% and the Nasdaq up 1%.
ASX opening hours
Today is of course Christmas Eve. As per previous years, trading will finish earlier than normal today. You'll need to make sure you get your trades in before 14:00 Eastern Standard Time or you'll miss out. The ASX share market will then be closed until Wednesday 27 December due to the public holidays on Monday and Tuesday.
Oil prices storm higher
It could be a great end to the week for energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices pushed higher again. According to Bloomberg, the WTI crude oil price is up 1.15% to US$73.61 a barrel and the Brent crude oil price is up 1.7% to US$76.53 a barrel. Oil prices were boosted by reports that the worst effects of the Omicron variant might be more containable than previously feared.
Bega given neutral rating
The team at Goldman Sachs has given its verdict on the Bega Cheese Ltd (ASX: BGA) share price after its disappointing trading update. According to the note, the broker has retained its neutral rating and slashed its price target by 13% to $5.65. Goldman notes that its "earnings have been impacted by a decline in milk supply and pressure on margins, caused by continued strong competition for milk amongst processors."
Gold price rises
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price rose. According to CNBC, the spot gold price is up 0.4% to US$1,810.1 an ounce. The gold price held firm despite easing Omicron concerns.
