On Wednesday, the S&P/ASX 200 Index (ASX: XJO) fought hard but ultimately fell a touch short of ending in positive territory. The benchmark index edged 0.15% lower to 6,986.8 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
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ASX 200 expected to fall again
The Australian share market looks set to tumble on Thursday after another poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 64 points or 0.9% lower this morning. On Wall Street, the Dow Jones fell 0.9%, the S&P 500 dropped 0.8%, and the NASDAQ edged 0.55% lower. This was the fourth consecutive day of declines for the Dow and S&P 500.
BHP shares trade ex-dividend
The BHP Group Ltd (ASX: BHP) share price is likely to trade lower again on Thursday. This is because the mining giant's shares are going ex-dividend this morning for its monster fully franked final dividend of $2.471 per share. This represents a yield of 6.1% based on the latest BHP share price. Eligible shareholders can look forward to receiving this dividend later this month on 29 September.
Oil prices continue to slide
Energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have another tough day after oil prices dropped again on Wednesday night. According to Bloomberg, the WTI crude oil price is down 2.7% to US$89.15 a barrel and the Brent crude oil price is down 2.8% to US$96.50 a barrel. Recession fears continue to weigh on sentiment.
Webjet rated as a buy
The Webjet Ltd (ASX: WEB) share price could be great value according to the team at Goldman Sachs. In response to the online travel agent's trading update, the broker has retained its buy rating with a slightly trimmed price target of $6.80. Goldman said: "We believe WEB remains well positioned to capitalise on the recovery through their online OTA offer and more importantly the strengthening position in the Bedbanks market."
Gold price falls again
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could come under pressure after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.85% to US$1,721.40 an ounce. This meant that gold recorded its fifth monthly decline in a row.
