On Wednesday, the S&P/ASX 200 Index (ASX: XJO) followed Wall Street's lead and dropped deep into the red. The benchmark index fell 0.8% to 7,307.8 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to rebound
The Australian share market is expected to rebound on Thursday despite a relatively poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 21 points or 0.3% higher this morning. In late trade in the United States, the Dow Jones is down 0.45%, the S&P 500 has fallen 0.1% and the NASDAQ is up 0.1%.
Mining giants go ex-dividend
A large number of ASX 200 shares will go ex-dividend this morning and could trade lower. This includes mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO). Last month, BHP declared a fully franked interim dividend of 130.6 cents per share. This is scheduled to hit shareholders' bank accounts on 30 March. Whereas Rio Tinto declared a 326.5 cents per share fully franked dividend, which is expected to be paid to eligible shareholders on 20 April.
Oil prices fall again
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a tough session after oil prices dropped again on Wednesday night. According to Bloomberg, the WTI crude oil price is down 1.2% to US$76.61 a barrel and the Brent crude oil price is down 0.85% to US$82.58 a barrel. Rate hike concerns have been weighing on sentiment this week.
Carsales rated neutral
The Carsales.Com Ltd (ASX: CAR) share price is fairly priced according to analysts at Goldman Sachs. In response to its capital raising and acquisition of an additional 40% stake in Brazil's Webmotors, the broker has retained its neutral rating with a $23.00 price target.
Gold price edges lower
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued session after the gold price edged lower. According to CNBC, the spot gold price is down a fraction to US$1,819.8 an ounce. The precious metal has come under pressure this week on rate hike fears.
