On Thursday, the S&P/ASX 200 Index (ASX: XJO) edged lower due largely to weakness in the tech sector. The benchmark index fell 0.15% to 7,078 points.
Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to tumble
The Australian share market looks set to end the week in the red. According to the latest SPI futures, the ASX 200 is expected to open the day 0.8% lower this morning. This follows a very poor night on Wall Street, which late on sees the Dow Jones down 0.85%, the S&P 500 down 1.7%, and the Nasdaq down 2.7%.
REA Group half year results
The REA Group Limited (ASX: REA) share price will be one to watch today when it releases its half year results. According to a note out of Goldman Sachs, its analysts are expecting the property listings company to outperform the market's expectations with revenue of $592 million and EBITDA of $373 million. This is ahead of the consensus estimates by 4% and 7%, respectively.
Oil prices storm higher
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a great day after oil prices stormed higher. According to Bloomberg, the WTI crude oil price is up 2.2% to US$90.19 a barrel and the Brent crude oil price is up 1.8% to US$91.05 a barrel. Oil prices stormed higher amid further supply concerns.
Gold price softens
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price softened. According to CNBC, the spot gold price is down 0.2% to US$1,806.90 an ounce. The gold price snapped its winning streak after the US dollar strengthened.
Goldman remains neutral on Westpac
The team at Goldman Sachs has responded to the Westpac Banking Corp (ASX: WBC) first quarter update by retaining its neutral rating but lifting its price target slightly to $26.24. Goldman commented: "While we remain Neutral on WBC, we do note that management is making progress on a number of its initiatives."
