On Wednesday, the S&P/ASX 200 Index (ASX: XJO) ended its losing streak and pushed higher. The benchmark index rose 0.5% to 6,998.1 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to rise again on Thursday after Wall Street snapped a three-day losing streak. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.45% higher this morning. On Wall Street, the Dow Jones rose 0.2%, the S&P 500 was up 0.3%, and the NASDAQ pushed 0.4% higher.
Travel results
A couple of ASX 200 travel shares will be handing down their results on Thursday. Travel agent Flight Centre Travel Group Ltd (ASX: FLT) and airline operator Qantas Airways Limited (ASX: QAN) are both scheduled to release their full year results and are expected to report sizeable losses. Consensus estimates are for net losses of $264 million and $1.2 billion, respectively. The market will no doubt be looking for signals that a return to profit is now on the cards.
Oil prices continue to rise
Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have another decent day on Thursday after oil prices rose again on Wednesday night. According to Bloomberg, the WTI crude oil price is up 1.6% to US$95.21 a barrel and the Brent crude oil price is up 1.3% to US$101.54 a barrel. Oil prices lifted amid concerns that the United States will not consider additional concessions to Iran.
Woolworths results
The Woolworths Group Ltd (ASX: WOW) share price will be one to watch on Thursday when the retail giant releases its full year results. According to a note out of Citi, its analysts are expecting a net profit after tax of $1,523 million. The broker is also expecting a stronger outlook than the market is forecasting. It recently said: "We are ~4% above consensus for FY23e sales and ~5% above consensus for EBIT."
Gold price edges higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch following a mildly positive night for the gold price. According to CNBC, the spot gold price is up 0.2% to US$1,765.1 an ounce. Gold rose ahead of the Jackson Hole symposium.
