On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was back on form and stormed higher. The benchmark rose 0.55% to 7,323.7 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to open flat
The Australian share market is expected to have a soft session on Thursday despite a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day flat this morning. In the United States, the Dow Jones rose 0.3%, the S&P 500 climbed 0.25% and the NASDAQ traded a fraction higher.
BHP update
The BHP Group Ltd (ASX: BHP) share price will be on watch on Wednesday when the mining giant releases its fourth-quarter update. Goldman Sachs is expecting a solid quarter from BHP, with iron ore shipments of 64.9Mt, up from 59.8Mt in the previous quarter. This estimate is slightly ahead of consensus expectations for shipments of 64.5Mt. An average iron ore price of US$101 per tonne is expected by the broker.
Oil prices fall
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued session after oil prices pulled back on Wednesday night. According to Bloomberg, the WTI crude oil price is down 0.6% to US$75.27 a barrel and the Brent crude oil price is down 0.15% to US$79.50 a barrel. Traders were taking profit after some strong gains.
Santos Q2 update
The Santos Ltd (ASX: STO) share price could be on the move today when the energy giant releases its second quarter. During the first quarter, the company reported production of 22.2mmboe, sales revenue of US$1.6 billion, and free cash flow of US$720 million. Santos will need stronger second-quarter production to put it on track to achieve its full-year production guidance of 89-96 mmboe.
Gold price edges higher
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.1% to US$1,981.9 an ounce. The gold price is nearing an eight-week high on US Fed pause hopes.
