On Thursday, the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark index rose 0.2% to 6,842.9 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 fall
The Australian share market looks set to end the week in the red. This follows a disappointing night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 38 points or 0.55% lower this morning. In the United States, the Dow Jones was down 0.55%, the S&P 500 dropped 1.1%, and the Nasdaq tumbled 1.4% lower.
Oil prices sink
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a difficult finish to the week after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 3.7% to US$85.19 a barrel and the Brent crude oil price is down 3.4% to US$90.87 a barrel. There are concerns that large interest rate increases in the US could impact demand.
Aristocrat rated as a buy
The Aristocrat Leisure Limited (ASX: ALL) share price could be heading a lot higher from current levels according to analysts at Goldman Sachs. This morning the broker retained its buy rating and $43.00 price target on the gaming technology company's shares. Its bullish view is "based on the strong D&D commitment and pipeline support for future growth, well diversified digital business, leverage to the rapidly recovering land-based business as well as strength in their balance sheet."
Gold price tumbles
Gold miners including Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could finish to the week deep in the red after the gold price tumbled overnight. According to CNBC, the spot gold price is down 2% to US$1,674.20 an ounce. Higher treasury yields weighed on the yield-less safe haven asset.
Endeavour remains a buy
The Endeavour Group Ltd (ASX: EDV) share price remains in the buy zone according to Goldman Sachs despite regulation changes in Tasmania. The state government has announced plans to introduce a state-wide player card system to provide harm protection to those most at risk of problem gambling. Goldman expects this to be immaterial to Endeavour's business. As a result, it retains its buy rating and $8.10 price target.
