On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and charged higher. The benchmark index rose 0.7% to 7,231.8 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 edge lower
The Australian share market looks set to edge lower on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points lower this morning. In late trade in the United States, the Dow Jones is up 0.3%, the S&P 500 has risen 0.4%, and the NASDAQ has climbed 0.7%. Minutes from the US Federal Reserve boosted stocks.
Qantas shares rated as a buy
The Qantas Airways Limited (ASX: QAN) share price may have stormed to a 52-week high on Wednesday, but Goldman Sachs believes it could keep ascending. According to a note, the broker has reiterated its conviction buy rating with an improved price target of $8.20. It said: "We believe the stock is not appropriately pricing QAN's improved earnings capacity."
Oil prices sink
Energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a difficult day after oil prices sank on Wednesday night. According to Bloomberg, the WTI crude oil price is down 3.9% to US$77.82 a barrel and the Brent crude oil price is down 3.7% to US$85.14 a barrel. Russian price cap talks and a build up of US gasoline weighed on prices.
More annual general meetings
The annual general meetings continue on Thursday with another group of ASX 200 shares hosting their yearly events. This includes retail giant Harvey Norman Holdings Limited (ASX: HVN), coal miner New Hope Corporation Limited (ASX: NHC), and gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL).
Gold price rises
Gold shares Evolution and Regis Resources will also be on watch after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.7% to US$1,752.5 an ounce. Comments from the US Federal Reserve that smaller rate hikes could be coming soon boosted the gold price.
