On Thursday, the S&P/ASX 200 Index (ASX: XJO) tumbled deep into the red. The benchmark index fell 1.45% to 6,965.5 points.
Will the market be able to bounce back from this on Friday? Here are five things to watch:
ASX 200 expected to rebound
The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open 15 points or 0.2% higher this morning. In late trade in the United States, the Dow Jones is up 1%, the S&P 500 is up 1.6%, and the NASDAQ index is up 2.3%.
Oil prices recover
Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a decent finish to the week after oil prices snapped their losing streak overnight. According to Bloomberg, the WTI crude oil price is up 0.95% to US$68.26 a barrel and the Brent crude oil price is up 1.3% to US$74.61 a barrel. This follows news that Saudi Arabia and Russia met to discuss ways to improve market stability.
Buy Lifestyle Communities shares
The Lifestyle Communities Ltd (ASX: LIC) share price could be great value according to analysts at Goldman Sachs. This morning, the broker reiterated its buy rating with an improved price target of $27.15. It commented: "We believe this is a highly valuable business model" and "the recent sell off offers a compelling entry level."
Gold price softens
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price eased overnight. According to CNBC, the spot gold price is down 0.4% to US$1,923.9 an ounce. Improving investor sentiment put pressure on the safe haven asset.
Dividend payday
A number of ASX 200 shares will be paying their latest dividends on Friday. This includes auto parts retailer Bapcor Ltd (ASX: BAP), fintech company Iress Ltd (ASX: IRE), investment company Pinnacle Investment Management Group Ltd (ASX: PNI), and casino operator SKYCITY Entertainment Group Limited (ASX: SKC).
