On Thursday, the S&P/ASX 200 Index (ASX: XJO) returned to form and charged notably higher. The benchmark index rose 1.8% to 6,845.6 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to storm higher
The Australian share market looks set to end the week with a very strong gain. This follows another solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open a massive 121 points or 1.8% higher this morning. In the United States, the Dow Jones was up 0.6%, the S&P 500 climbed 0.65%, and the Nasdaq pushed 0.6% higher.
Oil prices rebound
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a decent finish to the week after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 1% to US$82.75 a barrel and the Brent crude oil price is up 0.6% to US$88.53 a barrel. Oil prices rebounded after almost hitting an 8-month low.
A2 Milk rated as a sell
The A2 Milk Company Ltd (ASX: A2M) share price is fully valued after its recent run according to analysts at Goldman Sachs. This morning the broker initiated coverage on the infant formula company with a sell rating and $5.80 price target. Goldman said: "Despite solid operational execution in 2H22, we believe this result will be challenging to replicate in FY23."
Gold price falls
Gold miners including Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.5% to US$1,718.70 an ounce. US Federal Reserve comments about taming inflation weighed on the safe haven asset.
Shares going ex-dividend
Another group of shares will be going ex-dividend on Friday. This includes media company Nine Entertainment Co Holdings Ltd (ASX: NEC) for its 7 cents per share dividend and logistics solution technology company WiseTech Global Ltd (ASX: WTC) for its 6.4 cents per share dividend. Elsewhere, today is payday for JB Hi-Fi Limited (ASX: JBH) shareholders.
