On Wednesday, the S&P/ASX 200 Index (ASX: XJO) fought hard to start the month with a gain but fell just short. The benchmark index edged slightly lower to 7,251.6 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 gain on Thursday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% lower this morning. In late trade in the United States, the Dow Jones is down 0.2%, the S&P 500 has fallen 0.6% and the NASDAQ is down 0.8%.
Nickel Industries shares named as a buy
The Nickel Industries Ltd (ASX: NIC) share price could have major upside potential according to analysts at Bell Potter. This morning the broker has retained its buy rating with a slightly improved price target of $1.87. Bell Potter commented: "Its aggressive growth outlook and undemanding valuation metrics make it one of our top picks."
Oil prices rise again
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent session after oil prices rose again on Wednesday night. According to Bloomberg, the WTI crude oil price is up 0.7% to US$77.61 a barrel and the Brent crude oil price is up 0.9% to US$84.18 a barrel. Traders have been bidding oil higher over the last couple of days thanks to strong economic data out of China.
Shares going ex-dividend
A number of ASX 200 shares are going ex-dividend on Thursday and could drop into the red. This includes supermarket giant Coles Group Ltd (ASX: COL), private health insurers Medibank Private Ltd (ASX: MPL) and NIB Holdings Limited (ASX: NHF), and lithium miner Pilbara Minerals Ltd (ASX: PLS).
Gold price climbs
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good session after the gold price rose overnight. According to CNBC, the spot gold price is up 0.5% to US$1,845.5 an ounce. The precious metal rose after the US dollar softened in response to China's strong economic data.
