5 things to watch on the ASX 200 on Friday

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

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.3% to 7,592.8 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to sink

The Australian share market looks set to end its winning streak following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 63 points or 0.8% lower this morning. In the US, the Dow Jones dropped 1%, the S&P 500 was down 1.5%, and the Nasdaq sank 2.1% after the US Federal Reserve hinted at a big rate hike next month.

Oil prices rise

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a decent finish to the week after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 1.2% to US$103.39 a barrel and the Brent crude oil price is up 1.1% to US$107.97 a barrel.

Endeavour remains a buy

The Endeavour Group Ltd (ASX: EDV) share price remains great value according to Goldman Sachs. In response to the alcohol retailer’s quarterly update, the broker reiterated its conviction buy rating and lifting its price target to $8.30. Goldman said: “We continue to believe that EDV is unrivaled in its capability to deliver a seamless omni-channel experience to consumers and can manage well through short-term cost volatilities with a less price-sensitive portfolio and high consumer loyalty.”

Gold price falls

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 edged lower. According to CNBC, the spot gold price is down slightly to US$1,954.7 an ounce. Traders were selling gold after treasury yields jumped.

Bega Cheese downgraded

The Bega Cheese Ltd (ASX: BGA) share price could have a difficult finish to the week. This morning Goldman Sachs downgraded the food company’s shares to a sell rating with a $5.15 price target. The broker explained: “While our call is largely around the full valuation, we are concerned about the headwinds facing the Australian Dairy Industry and the potential impact on future earnings.”

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 has no position in any of the stocks mentioned. 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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