On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and raced notably higher. The benchmark rose 1.2% to 7,297.7 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to edge lower
The Australian share market looks to have run out of steam on Thursday and is expected to edge lower despite a decent night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% lower this morning. In the United States, the Dow Jones rose 0.1%, the S&P 500 climbed 0.4%, and the NASDAQ pushed 0.55% higher.
Oil prices rise again
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a positive session after oil prices rose again on Wednesday night. According to Bloomberg, the WTI crude oil price is up 0.65% to US$81.67 a barrel and the Brent crude oil price is up 0.5% to US$85.93 a barrel. Traders have been buying oil amid concerns that supply could be disrupted in the US Gulf Coast.
IGO results
IGO Ltd (ASX: IGO) shares will be on watch today when the battery materials company releases its full-year results. According to a note out of Goldman Sachs, its analysts expect IGO to report EBITDA of $2,004 million and dividends of 33 cents per share for FY 2023.
Gold price higher
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good day the gold price rose overnight. According to CNBC, the spot gold price is up 0.3% to US$1,971.5 an ounce. Weak US economic data boosted hopes of a rate hike pause.
Corporate Travel rated as a buy
The Corporate Travel Management Ltd (ASX: CTD) share price could be good value according to Goldman Sachs. This morning, the broker has reiterated its buy rating with a $21.60 price target. This implies a 14% upside from current levels. It said: "We believe that CTD is well placed to further capitalize the industry growth trends organically and/or inorganically."
