5 things to watch on the ASX 200 on Friday

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

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) ran out of steam and ended its winning run with a small decline. The benchmark index fell 0.2% to 7,499.6 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 fall

The Australian share market looks set to end the week on a subdued note following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. In late trade in the US, the Dow Jones is down 0.7%, the S&P 500 trading is down 0.65%, and the Nasdaq is down 0.6%.

Oil prices tumble

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a tough finish to the week after oil prices tumbled. According to Bloomberg, the WTI crude oil price is down 6.5% to US$100.84 a barrel and the Brent crude oil price is down 5.4% to US$107.29 a barrel. This follows news that US President, Joe Biden, will release 1 million barrels per day of oil from strategic petroleum reserves to support supply and combat sky high prices.

Tabcorp given buy rating

The Tabcorp Holdings Limited (ASX: TAH) share price could be in the buy zone according to analysts at Goldman Sachs. In response to the gambling company’s demerger update, the broker has put a buy rating and $6.20 price target on its shares. It said: “We continue to see this [demerger] as a key catalyst in unlocking significant shareholder value.”

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 edged higher. According to CNBC, the spot gold price is up 0.4% to US$1,947 an ounce. This was driven by weaker treasury yields and puts the precious metal on course to record its best quarter in almost two years.

Dividends being paid

It is another big day of dividend payments on Friday with a number of ASX 200 shares rewarding their shareholders today. Among the companies paying dividends are banking and insurance company Suncorp Group Ltd (ASX: SUN), telco giant Telstra Corporation Ltd (ASX: TLS), and wine company Treasury Wine Estates Ltd (ASX: TWE).

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. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Treasury Wine Estates Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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