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.
