On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.3% to 7,314.5 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to fall again
The Australian share market is expected to fall again on Thursday following a relatively poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% lower this morning. In late trade in the United States, the Dow Jones is down 0.3%, the S&P 500 has fallen 0.25% and the NASDAQ is flat.
Rio Tinto full-year results
The Rio Tinto Ltd (ASX: RIO) share price will be one to watch on Thursday. That's because the mining giant released its full-year results after the market close on Wednesday and reported a 13% decline in revenue to US$55,554 million and a 41% reduction in net profit after tax to US$12,420 million. This was short of expectations and may explain why its shares are down 3% on the NYSE.
Oil prices sink
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a tough session after oil prices sank on Wednesday night. According to Bloomberg, the WTI crude oil price is down 3.2% to US$73.95 a barrel and the Brent crude oil price is down 3% to US$80.58 a barrel. Traders were selling oil on demand concerns.
Qantas results
The Qantas Airways Limited (ASX: QAN) share price will be on watch when the airline operator releases its half-year results. The Flying Kangaroo has guided to an underlying profit before tax of $1.35 billion to $1.45 billion for the half. The company has also been tipped by Morgans to announce a $400 million share buy-back.
Gold price falls
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued session after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.4% to US$1,835.1 an ounce. The precious metal dropped in response to the release of US Federal Reserve minutes.
