5 things to watch on the ASX 200 on Friday

The ASX 200 looks set to end the week strongly on Friday.

A man looking at ASX share price movements on his computer screen.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.5% to 7,236.8 points.

Will the market be able to build on this on Friday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to end the week in a positive fashion following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 14 points or 0.2% higher this morning. In the United States, the Dow Jones was up 0.35%, the S&P 500 rose 0.95%, and the NASDAQ jumped 1.5%.

Xero shares rated as a buy

The Xero Limited (ASX: XRO) share price was on fire on Thursday following the release of the cloud accounting platform provider's full-year results. The good news is that Goldman Sachs sees potential for its shares to keep rising. This morning, the broker has responded to the result by reiterating its buy rating with an improved price target of $130.00.

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 1.1% to US$72.10 a barrel and the Brent crude oil price is down 1.2% to US$76.05 a barrel. A stronger US dollar weighed on prices.

Gold price tumbles

Gold shares Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a tough session after the gold price tumbled overnight. According to CNBC, the spot gold price is down 1.25% to US$1,960.2 an ounce. Hawkish US Fed bets put pressure on gold.

Aristocrat still a buy

Aristocrat Leisure Limited (ASX: ALL) shares fell yesterday following the release of the gaming technology company's half-year results. Goldman Sachs sees this as a buying opportunity and has reiterated its conviction buy rating with an improved price target of $46.70. It said: "While the market reaction to this update was weak, which we believe to be largely driven by Pixel United, the update offers incremental support to our Buy thesis."

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

a man in a british union jack T shirt hurdles high into the air with london bridge visible in the background.
Mergers & Acquisitions

Nick Scali shares halted amid $60m capital raising and UK expansion news

This furniture retailer has its eyes on the UK furniture market.

Read more »

An arrogant banker pleased with himself and his success winks at his mobile phone while taking a selfie
Share Market News

Are ASX 200 bank shares like CBA 'too expensive' right now?

Are banks overpriced or good value today?

Read more »

Happy couple doing grocery shopping together.
Broker Notes

Buy one, sell the other: Goldman's verdict on Coles vs. Woolworths share prices

One stock is set for a 26% share price gain over the next 12 months while the other is destined…

Read more »

Business woman watching stocks and trends while thinking
Share Market News

5 things to watch on the ASX 200 on Wednesday

Another positive session is expected for Aussie investors today.

Read more »

Businessman smiles with arms outstretched after receiving good news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another strong showing from the share market today.

Read more »

Three miners looking at a tablet.
Resources Shares

Own ASX mining shares? Experts say an upswing in commodity prices has begun

HSBC economists Paul Bloxham and Jamie Culling explain why global commodity prices are rising.

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why Brambles, Lifestyle Communities, Northern Star, and Select Harvests shares are sinking

These shares are having a tough session. But why?

Read more »

A young woman sits at her desk in deep contemplation with her hand to her chin while seriously considering information she is reading on her laptop
Share Market News

Will the Reserve Bank wait for the US Fed to cut interest rates first?

Here's when AMP thinks interest rates will be cut in the US, Australia, New Zealand, Canada and the Eurozone.

Read more »