On Thursday, the S&P/ASX 200 Index (ASX: XJO) fought hard to record the smallest of gains. The benchmark index rose 3.6 points to 7,513.4 points.
Will the market be able to build on this on Friday and end the year on a high? Here are five things to watch:
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ASX 200 expected to rise
The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% higher this morning. This follows a solid night of trade on Wall Street, which late on sees the Dow Jones up 0.1%, the S&P 500 up 0.1% and the Nasdaq up 0.45%.
ASX opening hours
Today is New Year's Eve and, as per previous years, trading will finish earlier than normal. 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 Tuesday 4 January.
Oil prices mixed
It could be a subdued end to the week for energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.3% to US$76.77 a barrel and the Brent crude oil price is down 0.1% to US$79.14 a barrel. Traders appear undecided on where oil prices are heading from here due to Omicron.
Lynas' Malaysian update
The Lynas Rare Earths Ltd (ASX: LYC) share price will be on watch today after providing an after-hours update on its Malaysian operation. Lynas advised that the Malaysian permanent disposal facility for Water Leach Purification residue has received environmental approval from the relevant Malaysian regulatory authorities. This removes a major risk the company was facing.
Gold price rises
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a good finish to the week after the gold price pushed higher. According to CNBC, the spot gold price is up 0.5% to US$1,814.2 an ounce. The gold price edged higher after Treasury yields softened.
