5 things to watch on the ASX 200 on Friday

The ASX 200 is expected to end the week on a high…

| More on:
Investor sitting in front of multiple screens watching share prices

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Thursday, the S&P/ASX 200 Index (ASX: XJO) returned to form and raced higher. The benchmark index rose 1.3% to 7,356.9 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 rise

The Australian share market looks set to end the week on a positive note following a very strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 45 points or 0.6% higher this morning. In the US, the Dow Jones rose 1.85%, the S&P 500 climbed 2.5%, and the Nasdaq stormed 3.1% higher.

Oil prices race higher

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a great finish to the week after oil prices raced higher. According to Bloomberg, the WTI crude oil price is up 3.2% to US$105.32 a barrel and the Brent crude oil price is up 2.1% to US$107.56 a barrel.

ResMed quarterly update

The ResMed Inc (ASX: RMD) share price will be one to watch on Friday following the release of the sleep treatment company’s quarterly update. ResMed reported a 12% increase in revenue to US$864.5 million and a 5% lift in operating income to US$234.3 million. The latter was impacted by a 150 basis point contraction in its gross margin due to higher freight and manufacturing costs.

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 pushed higher. According to CNBC, the spot gold price is up 0.4% to US$1,896.4 an ounce. The precious metal bounced back after hitting a two month low yesterday.

Fortescue rated as a sell

The Fortescue Metals Group Limited (ASX: FMG) share price could be heading lower according to analysts at Goldman Sachs. This morning the broker responded to the mining giant’s quarterly update by retaining its sell rating and cutting its price target to $14.90. Goldman continues to believe that its shares are overvalued compared to peers and sees major risks from the Fortescue Future Industries business.

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 recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Rival hands reaching upward for a company trophy or prize.
Share Market News

Here are the top 10 ASX 200 shares today

These ASX 200 shares outperformed all their peers on Friday.

Read more »

a woman holds her hands to her temples as she sits in front of a computer screen with a concerned look on her face.
Bank Shares

What’s moving the CBA share price this week?

CommBank shares traded ex-dividend on Wednesday this week.

Read more »

A woman stands on the roof of a city building as papers fly in the sky around her.
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Friday

We take a look at the most traded ASX 200 shares today...

Read more »

Two men in suits face off against each other in a boing ring.
Cryptocurrencies

The Aussie-born crypto platform taking on Ethereum

A new platform is being launched by a 25-year-old Aussie millionaire.

Read more »

A woman shouts through a megaphone.
Share Market News

Earnings preview: Here’s which ASX shares are reporting today

Wondering which ASX companies are releasing results on Friday?

Read more »

A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements
Share Market News

5 things to watch on the ASX 200 on Friday

The ASX 200 looks likely to have a decent finish to the week...

Read more »

A group of happy office workers throw papers in the air and cheer after seeing the Latrobe Magnesium price skyrocket 38%
Share Market News

Here are the top 10 ASX 200 shares today

These ASX 200 shares outperformed all others on Thursday.

Read more »

Three male athletes sprint on an athletics track with the sun low on the horizon behind them representing the race between ASX lithium shares to outperform
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Thursday

Our most traded ASX 200 share today is down by more than 5%.

Read more »