On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and charged higher. The benchmark index rose 1% to 7,182.7 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to sink
The Australian share market looks set to sink on Thursday following a major selloff on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 135 points or 1.9% lower this morning. On Wall Street, the Dow Jones fell 3.6%, the S&P 500 dropped 4%, and the Nasdaq sank 4.7%. This was the Dow Jones' worst session since 2020.
Webjet full-year results
The Webjet Limited (ASX: WEB) share price will be one to watch on Thursday. This morning the online travel agent is scheduled to release its full-year results. According to a note out of Goldman Sachs, it is expecting Webjet to report revenue of $143.6 million and EBITDA of $1.5 million.
Oil prices tumble
It could be a difficult day for energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 2.8% to US$109.09 a barrel and the Brent crude oil price is down 2.5% to US$109.12 a barrel. Oil prices fell after US producers ramped up production.
Westpac goes ex-dividend
The Westpac Banking Corp (ASX: WBC) share price is likely to trade notably lower today regardless of the market selloff. This is due to Australia's oldest bank's shares trading ex-dividend this morning for its fully franked interim dividend of 61 cents per share. Eligible shareholders can now look forward to receiving this dividend on 24 June.
Gold price edges lower
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued day after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.2% to US$1,815.10 an ounce. A stronger US dollar offset demand for safe haven assets during the market selloff.
