On Thursday, the S&P/ASX 200 Index (ASX: XJO) returned to form and pushed higher. The benchmark index rose 0.8% to 7,364.7 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 the week deep in the red following a selloff on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 109 points or 1.5% lower this morning. In the US, the Dow Jones sank 3.1%, the S&P 500 dropped 3.55%, and the Nasdaq crashed 5%. The Dow had its worst day since 2000.
Oil prices rise
Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a good finish to the week after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.7% to US$108.61 a barrel and the Brent crude oil price is up 1% to US$111.19 a barrel.
Macquarie full year results
The Macquarie Group Ltd (ASX: MQG) share price will be one to watch when the investment bank releases its full year results. According to a note out of Goldman Sachs, it is expecting the bank to report second half cash earnings of $2,800 million. This will be a 38% increase over the prior corresponding period. A $4.40 per share final dividend is also expected.
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 overnight. According to CNBC, the spot gold price is up 0.45% to US$1,877.2 an ounce. Investors were buying the safe haven asset amid the equities selloff.
NAB remains a buy
National Australia Bank (ASX: NAB) shares remain a buy according to Goldman Sachs. This morning the broker responded to the banking giant's half year update by retaining its conviction buy rating and lifting its price target to $34.17. Goldman believes NAB is well-placed to continue its growth and remains the broker's preferred sector exposure.
