On Wednesday, the S&P/ASX 200 Index (ASX: XJO) started the month with a decent gain. The benchmark index rose 0.3% to 7,234 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to fall on Thursday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 56 points or 0.8% lower this morning. On Wall Street, the Dow Jones fell 0.55%, the S&P 500 dropped 0.75%, and the Nasdaq tumbled 0.7%.
Pilbara Minerals names its new CEO
The Pilbara Minerals Ltd (ASX: PLS) share price will be one to watch on Thursday after the lithium miner named its new CEO. According to the release, Pilbara Minerals will promote its chief operating officer, Dale Henderson, to the top job. The company's long-serving CEO, Ken Brinsden, will formally step down from the role on 30 July.
Oil prices edge higher
It could be a softer day for energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices made modest gains overnight. According to Bloomberg, the WTI crude oil price is up slightly to US$114.79 a barrel and the Brent crude oil price is up 0.2% to US$115.82 a barrel. Optimism over demand lifted prices.
BHP given buy rating
The BHP Group Ltd (ASX: BHP) share price could be good value according to analysts at Goldman Sachs. This morning the broker reinstated coverage on the mining giant with a buy rating and $51.20 price target. Goldman highlights BHP's attractive valuation and free cash flow, as well as upside from its ~US$20bn copper growth pipeline.
Gold price creeps higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch after the gold price creeped higher overnight. According to CNBC, the spot gold price is up 0.3% to US$1,847.70 an ounce. The precious metal rose amid inflation worries.
