5 things to watch on the ASX 200 on Thursday

The ASX 200 is expected to have a tough time on Thursday.

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped sharply lower. The benchmark fell 0.8% to 7,257.1 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 looks set to fall again on Thursday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.5% lower this morning. In the United States, the Dow Jones fell 0.6%, the S&P 500 dropped 0.7%, and the NASDAQ tumbled 1.05%. Rate hike fears weighed on investor sentiment.

Oil prices rise again

ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good session after oil prices rose again on Wednesday night. According to Bloomberg, the WTI crude oil price is up 1% to US$87.58 a barrel and the Brent crude oil price is up 0.7% to US$90.67 a barrel. Production cuts by Russia and Saudi Arabia have boosted prices.

BHP goes ex-dividend

BHP Group Ltd (ASX: BHP) shares are likely to trade lower on Thursday. That's because the mining giant's shares will be going ex-dividend this morning for its fully franked $1.25 per share final dividend. A number of other shares are trading ex-dividend today also such as ASX Ltd (ASX: ASX) and Super Retail Group Ltd (ASX: SUL).

Gold price falls

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued session after the gold price fell overnight. According to CNBC, the spot gold price is down 0.55% to US$1,941.9 an ounce. US rate hike concerns put pressure on the precious metal.

Macquarie rated neutral

The Macquarie Group Ltd (ASX: MQG) share price could be about fair value according to analysts at Goldman Sachs. This morning, the broker has responded to the investment bank's trading update by retaining its neutral rating with an improved price target of $194.99. It said: " While there is no change to our investment thesis or Neutral rating, the update does highlight the difficulty in accurately forecasting the timing of a number of aspects of MQG's revenues."

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, Macquarie Group, and Super Retail Group. The Motley Fool Australia has positions in and has recommended Macquarie Group and Super Retail 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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