5 things to watch on the ASX 200 on Thursday

The ASX 200 is expected to have a better day on Thursday…

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.5% to 6,594.5 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market is expected to rebound on Thursday following a decent night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 41 points or 0.6% higher this morning. On Wall Street, the Dow Jones was up 0.2%, the S&P 500 rose 0.35%, and the NASDAQ pushed 0.35% higher.

Oil prices fall again

It could be a poor day for energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices dropped again overnight. According to Bloomberg, the WTI crude oil price is down 1.15% to US$98.41 a barrel and the Brent crude oil price is down 2.4% to US$100.32 a barrel. Concerns that there could be a global recession have taken oil prices to a 12-week low.

Gold price drops

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a tough day after the gold price dropped again overnight. According to CNBC, the spot gold price is down 1.45% to US$1,738.5 an ounce. A stronger US dollar is reducing the appeal of the safe haven asset.

Atlas Arteria tipped to make acquisition

The Atlas Arteria Group (ASX: ALX) share price will be on watch today amid reports in the AFR that the toll road operator is interested in acquiring a stake in the Chicago Skyway toll road in the United States. This is despite the company being in talks with IFM Investors regarding a takeover at $8.10 per share.

Block shares fall

The Block Inc (ASX: SQ2) share price could have an off day after its US listed shares dropped into the red overnight. The payments company’s shares on the NYSE ended the day almost 3% lower, which doesn’t bode well for its ASX listed shares this morning.

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 positions in and has recommended Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. 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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