On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and recorded a small decline. The benchmark fell 0.1% to 7,030.3 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 mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.25% lower this morning. In the United States, the Dow Jones fell 0.2%, the S&P 500 was flat, and the NASDAQ rose 0.2%.
Dividend payday
A large number of ASX 200 shares will be paying their latest dividends this morning. This includes BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA), Fortescue Metals Group Ltd (ASX: FMG), Insurance Australia Group Ltd (ASX: IAG), Santos Ltd (ASX: STO), Telstra Group Ltd (ASX: TLS), and Woodside Energy Group Ltd (ASX: WDS). Over $17 billion will be paid to investors today.
Oil prices jump
It could be a good session for ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 3.6% to US$93.67 a barrel and the Brent crude oil price is up 2.7% to US$96.52 a barrel. A larger than expected US crude draw added to supply concerns.
Gold price tumbles
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a poor session after the gold price dropped overnight. According to CNBC, the spot gold price is down 1.35% to US$1,893.8 an ounce. The precious metal fell on higher-for-longer interest rate bets.
Paladin Energy downgraded
The Paladin Energy Ltd (ASX: PDN) share price could be almost fully valued now according to analysts at Bell Potter. This morning, the broker has downgraded the uranium developer's shares to a speculative hold rating with an improved price target of $1.31.
