On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and charged notably higher thanks largely to gains in the banking sector. The benchmark index rose 1.15% to 7,268.3 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 to open higher
The Australian share market looks set to have another good day on Thursday following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 0.4% or 30 points higher this morning. In late trade on Wall Street, the Dow Jones is up 0.9%, the S&P 500 is up 1.4%, and the Nasdaq has risen 1.85%.
NAB Q1 update
The National Australia Bank Ltd (ASX: NAB) share price will be on watch today when it releases its first quarter update. According to a note out of Bell Potter, its analysts are forecasting close to $1.59 billion in cash earnings and around 49 cents cash earnings per share in during the first quarter of FY 2022.
Oil prices rise
Energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a decent day after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.5% to US$89.82 a barrel and the Brent crude oil price is up 1% to US$91.72 a barrel. Analysts are warning that oil prices could hit US$120 if Russia invades Ukraine.
AGL half year update
The AGL Energy Limited (ASX: AGL) share price will be in focus today when it releases its half year results this morning. The energy company is widely expected to post an ugly set of numbers after facing a very tough half. According to a note out of Morgans, its analysts expect AGL's first half earnings to sink to $97 million.
Gold price rises
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.4% to US$1,835 an ounce. Traders were buying gold after the US dollar and treasury yields softened ahead of the release of key US inflation data.
