On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled into the red. The benchmark fell 0.5% to 7,490.3 points.
Will the market be able to bounce back from this on Friday? Here are five things to watch:
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ASX 200 expected to drop
The Australian share market looks set to fall again on Friday following another poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 21 points or 0.3% lower this morning. In late trade in the United States, the Dow Jones is down 0.5%, the S&P 500 is down 0.6%, and the NASDAQ index is 0.65% lower.
Oil prices fall
Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued finish to the week after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 0.45% to US$78.09 a barrel and the Brent crude oil price is down 0.6% to US$84.50 a barrel. A buildup of US inventories put pressure on prices.
REA results
The REA Group Ltd (ASX: REA) share price will be one to watch on Friday. That's because the property listings company is scheduled to release its half year results and investors will be able to see how the slowing housing market has impacted its bottom line. Goldman Sachs expects a 3% decline in revenue to $606 million and a 6% decline in net profit to $208 million.
Gold price drops
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a poor finish to the week after the gold price slumped overnight. According to CNBC, the spot gold price is down 0.75% to US$1,877.3 an ounce. Traders appear nervous ahead of the release of key inflation data in the US.
AGL remains a hold
The AGL Energy Limited (ASX: AGL) share price may have crashed 10% on Thursday but Morgans isn't recommending investors jump in just yet. In response to the energy giant's half year results, the broker has retained its hold rating and slashed its price target to $6.89. Morgans said: "AGL's 1H result was a significant miss on consensus and our forecast and FY23 underlying net profit guidance was reduced by $20m."
