On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.3% to 6,800.1 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 expected to fall
The Australian share market looks set to fall on Thursday after a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 60 points or 0.9% lower this morning. In late trade in the United States, the Dow Jones Industrial Average Index (DJX: .DJI) is down 0.4%, the S&P 500 Index (SP: .INX) has fallen 0.7%, and the Nasdaq Composite (NASDAQ: .IXIC) has dropped 1%.
Oil prices rebound
Energy shares, including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO), could have a decent day after oil prices rebounded on Wednesday night. According to Bloomberg, the WTI crude oil price is up 2.8% to US$85.10 a barrel and the Brent crude oil price is up 2% to US$91.88 a barrel. Traders appear to believe that oil prices have been oversold.
Annual general meetings
A number of ASX 200 companies are holding their annual general meetings today and could provide trading updates. This includes health supplements company Blackmores Ltd (ASX: BKL), healthcare company Healius Ltd (ASX: HLS), struggling fund manager Magellan Financial Group Ltd (ASX: MFG), fellow fund manager Perpetual Limited (ASX: PPT), and toll road operator Transurban Group (ASX: TCL).
Woodside quarterly update
The Woodside Energy Group Ltd (ASX: WDS) share price will be on watch when the company releases its quarterly update this morning. Investors will be keen to see if the energy giant is still on track to achieve its full-year production guidance of 145 – 153 Mmboe. Woodside's costs may also be in focus. During the first half, it reported a 47% increase in unit production costs to US$7.2 per boe due to the impact of maintenance and the Wheatstone shutdown.
Gold price tumbles
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price dropped overnight. According to CNBC, the spot gold price is down 1.3% to US$1,633.8 an ounce. The precious metal hit a three-week low after US treasury yield strengthened.
