5 things to watch on the ASX 200 on Friday

It looks set to be a difficult day for the ASX 200…

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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.

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

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