5 things to watch on the ASX 200 on Friday

The ASX 200 looks set to end the week with a small decline.

A male ASX 200 broker wearing a blue shirt and black tie holds one hand to his chin with the other arm crossed across his body as he watches stock prices on a digital screen while deep in thought

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.25% to 7,357.4 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to end the week in a subdued fashion despite Wall Street rising overnight. According to the latest SPI futures, the ASX 200 is expected to open 20 points or 0.25% lower this morning. In the United States, the Dow Jones was up 0.15%, the S&P 500 rose 0.05% and the NASDAQ climbed 0.1%.

REA results

REA Group Ltd (ASX: REA) shares will be on watch on Friday when the realestate.com.au operator releases its full-year results. According to a note out of Goldman Sachs, its analysts are expecting REA to report revenue of $1,182 million, EBITDA of $636 million, and a net profit of $367 million. The latter will be down from $407.5 million a year earlier.

Oil prices fall

ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 1.8% to US$82.87 a barrel and the Brent crude oil price is down 1.3% to US$86.39 a barrel. Concerns over Chinese demand weighed on oil prices.

Gold price falls

ASX 200 gold miners including Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) could have a soft finish to the week after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.25% to US$1,945.9 an ounce. This follows the release of US inflation data.

Liontown rated neutral

Goldman Sachs has been running the rule over Liontown Resources Ltd (ASX: LTR) shares following a site visit. This has led to the broker retaining its neutral rating with a trimmed price target of $1.40. This implies almost 50% downside from current levels. Goldman said: "On our LT spodumene price of US$1,000/t (real 2027), LTR is trading at a premium to our NAV at 1.7x (peer average ~1.2x), and remains at a premium to peers on implied LT spodumene price of ~US$1,500/t (peer average ~US$1,200/t)."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and REA Group. The Motley Fool Australia has recommended REA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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