On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.25% to 7,099.7 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 in a positive fashion following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 32 points or 0.45% higher this morning. In the United States, the Dow Jones was up 0.5%, the S&P 500 rose 0.6%, and the NASDAQ jumped 1%.
Miners likely to rise
It looks set to be a decent session for miners such as BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) after their NYSE listed shares pushed higher overnight. A decent rise in the benchmark iron ore price appears to have boosted these mining giants. Iron ore rose 2% to US$110 a tonne.
Oil prices fall
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a tough finish to the week after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 2.1% to US$71.01 a barrel and the Brent crude oil price is down 1.7% to US$75.64 a barrel. Speculation that some Iranian sanctions could be lifted put pressure on prices.
Gold price rises
It could be a decent finish to the week for gold shares Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 1.1% to US$1,979.9 an ounce. Soft US economic data appears to have reduced rate hike bets.
ALS goes ex-dividend
ALS Ltd ASX: ALQ) shares could trade lower today. That's because the testing services company's shares are due to go ex-dividend this morning. Eligible shareholders can now look forward to receiving ALS' final dividend of 19.4 cents per share next month on 6 July.
