On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form again and tumbled lower. The benchmark fell 0.75% to 7,153.9 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to edge lower
The Australian share market looks set to fall again on Thursday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% lower this morning. In the United States, the Dow Jones fell 0.2%, but the S&P 500 rose 0.1% and the NASDAQ climbed 0.2%.
Oil prices mixed
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued session after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is down 0.1% to US$88.79 a barrel and the Brent crude oil price is up 0.1% to US$92.13 a barrel. A surprising increase in US stockpiles put pressure on WTI oil.
US inflation
The latest US inflation data was released overnight and revealed a hotter-than-expected reading. According to CNBC, the consumer price index rose 0.6% in August, its biggest monthly gain of 2023. The inflation gauge rose 3.7% from a year ago. This makes next week's US interest rate meeting one to watch.
Gold price falls
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a soft session after the gold price fell overnight. According to CNBC, the spot gold price is down 0.2% to US$1,931.1 an ounce. The precious metal fell after the stronger-than-expected inflation reading.
Shares going ex-dividend
A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes building materials company Fletcher Building Ltd (ASX: FBU), poultry producer Inghams Group Ltd (ASX: ING), and mining giant South32 Ltd (ASX: S32).
