On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a day to forget. The benchmark index fell 1.65% to 7,091.3 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 have a subdued session on Thursday after a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 10 points or 0.15% lower this morning. In the United States, the Dow Jones fell 0.4%, the S&P 500 dropped 0.6% and the NASDAQ tumbled 0.6%.
Bank of Queensland rated neutral
The Bank of Queensland Ltd (ASX: BOQ) share price doesn't offer enough upside for analysts at Goldman Sachs despite recent weakness. As a result, this morning the broker has retained its neutral rating with a $6.20 price target. It believes that "its higher exposure to housing and its more rate sensitive deposit base leaves it more exposed to the current industry-wide trends adversely impacting NIMs,"
Oil prices slip again
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a poor session after oil prices fell again on Wednesday night. According to Bloomberg, the WTI crude oil price is down 2.2% to US$67.95 a barrel and the Brent crude oil price is down 1.1% to US$72.71 a barrel. Oil prices fell amid weak economic data out of China.
Tabcorp rated as a sell
The Tabcorp Holdings Ltd (ASX: TAH) share price could be heading sharply lower according to Goldman Sachs. Its analysts have retained their sell rating and 84 cents price target. The broker said: "We continue to believe that achieving a 5% digital market share growth in a mature and competitive market with negative short-medium terms momentum is harder to achieve."
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent session after the gold price rose overnight. According to CNBC, the spot gold price is up 0.2% to US$1,981.6 an ounce. Market volatility led to increased demand for the safe haven asset.
