On Thursday, the S&P/ASX 200 Index (ASX: XJO) snapped its winning streak with a small decline. The benchmark index fell 0.3% to 7,324.1 points.
Will the market be able to bounce back from this on Friday? Here are five things to watch:
Image source: Getty Images
ASX 200 expected to rebound
The Australian share market looks set to end the week on a positive note after Wall Street had its best session since February. According to the latest SPI futures, the ASX 200 is expected to open 19 points or 0.25% higher this morning. In the United States, the Dow Jones rose 1.15%, the S&P 500 was up 1.3%, and the NASDAQ jumped 2%.
Oil prices fall
Energy producers like Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a soft finish to the week after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 1.1% to US$82.33 a barrel and the Brent crude oil price is down 1.2% to US$86.27 a barrel. Recession fears weighed on prices.
Beach rated as a buy
The Beach Energy share price could be great value according to analysts at Bell Potter. According to the note, the broker has reiterated its buy rating with a trimmed price target of $2.18. This implies potential upside of 43% from current levels. Bell Potter said: "BPT has a strong, fully funded production growth outlook, diversified across five energy basins and across four separate gas markets, including LNG."
Gold price hits one-year high
Gold miners Newcrest Mining Ltd (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a good finish to the week after the gold price charged higher overnight. According to CNBC, the spot gold price is up 1.5% to US$2,054.3 an ounce. The precious metal hit a one-year high as global economic worries mount.
Dividend payday
A number of ASX 200 shares will be paying their latest dividends on Friday. This includes hearing solutions company Cochlear Limited (ASX: COH), corporate travel specialist Corporate Travel Management Ltd (ASX: CTD), insurance giant QBE Insurance Group Ltd (ASX: QBE), and diversified retailer Super Retail Group Ltd (ASX: SUL).
A previous version of this article made reference to St Babara's share price and it's possible movements today. We acknowledge that St Barbara is suspended from trade and it's share price will therefore be unaffected today.
