On Wednesday, the S&P/ASX 200 Index (ASX: XJO) continued its winning streak and pushed higher again. The benchmark index rose 0.3% to 7,127.7 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 expected to fall
The Australian share market looks set to snap its winning streak on Thursday after a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. On Wall Street, the Dow Jones fell 0.5%, the S&P 500 dropped 0.7%, and the NASDAQ tumbled 1.25% lower. Overnight, the US Fed minutes revealed that interest rate hikes are likely to continue until inflation eases substantially.
Treasury Wine full year results
The Treasury Wine Estates Ltd (ASX: TWE) share price will be one to watch on Thursday. This morning the wine giant is scheduled to release its full year results for FY 2022. According to a note out of Citi, it expects the company to deliver a net profit after tax of $314.2 million. This is broadly in line with the market consensus estimate.
Oil prices rebound
Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a better day on Thursday after oil prices rebounded on Wednesday night. According to Bloomberg, the WTI crude oil price is up 1.4% to US$87.72 a barrel and the Brent crude oil price is up 1% to US$93.30 a barrel. Traders were buying oil after US crude stockpiles fell.
Pro Medicus results
The Pro Medicus Limited (ASX: PME) share price will be on watch when the health imaging company releases its full year results. According to a note out of Bell Potter, its analysts are expecting revenue of $92 million, EBITDA of $65.7 million, and a net profit after tax of $44.9 million. The latter represents a 48% increase year over year.
Gold price falls
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.6% to US$1,779.30 an ounce. Gold dropped for a third consecutive session following the release of minutes from the US Federal Reserve's meeting.
