On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a very strong day and stormed notably higher. The benchmark index rose 1.45% to 6,555 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:
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ASX 200 expected to sink
The Australian share market looks set to give back some of yesterday's gains after a very poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 24 points or 0.4% lower this morning. In the United States, the Dow Jones was down 1.55%, the S&P 500 dropped 2.1%, and the Nasdaq tumbled 2.85%. This meant the S&P 500 hit a new low for 2022.
Oil prices fall
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued finish to the week after oil prices pulled back overnight. According to Bloomberg, the WTI crude oil price is down 0.7% to US$81.55 a barrel and the Brent crude oil price is down 0.85% to US$88.57 a barrel. This was despite news that OPEC+ is considering an output cut.
Dividends being paid
Today is payday for a number of dividend-paying ASX 200 shares. Energy producer Beach, battery materials miner IGO Ltd (ASX: IGO), energy company Origin Energy Ltd (ASX: ORG), and wine giant Treasury Wine Estates Ltd (ASX: TWE) are among those rewarding their shareholders with dividend payments today.
Gold price edges lower
Gold miners including Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.1% to US$1,668.80 an ounce. Rate hike fears are weighing on the gold price.
Premier Investments rated neutral
The Premier Investments Limited (ASX: PMV) share price is fully valued according to analysts at Goldman Sachs. This morning the broker has responded to the retail conglomerate's full year results by retaining its neutral rating with an improved price target of $21.40. Goldman was impressed with Premier's strong beat but has concerns over its softening outlook.
