5 things to watch on the ASX 200 on Thursday

Will the ASX 200 have another poor session? Let's find out.

A male investor wearing a white shirt and blue suit jacket sits at his desk looking at his laptop with his hands to his chin, waiting in anticipation.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form again and recorded another disappointing decline. The benchmark fell 0.8% to 6,890.2 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 continue its poor run on Thursday despite a rebound on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 21 points or 0.3% lower this morning. In late trade on Wall Street, the Dow Jones is up 0.4%, the S&P 500 is up 0.85%, and the NASDAQ is 1.5% higher.

Buy Coronado shares

The team at Bell Potter thinks investors should be buying Coronado Global Resources Inc (ASX: CRN) shares for exposure to coal. This morning, the broker has reiterated its buy rating with a $2.00 price target. It said: "Our Buy recommendation reflects our positive met coal price outlook (supply constrained), CRN's near-term production growth and strong free cash flow yield."

Oil prices crash

It could be a very difficult session for ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices crashed overnight. According to Bloomberg, the WTI crude oil price is down 5.2% to US$84.63 a barrel and the Brent crude oil price is down 5.25% to US$86.15 a barrel. Weak gasoline demand in the US caused the selloff.

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 0.35% to US$1,835.2 an ounce. The precious metal fell for an eighth session in a row on higher-for-longer interest rate bets.

Sell Bank of Queensland shares

Goldman Sachs thinks investors should be selling Bank of Queensland Ltd (ASX: BOQ) shares ahead of its FY 2023 results next week. The broker has put a sell rating and $5.59 price target on the regional bank's shares. Goldman expects Bank of Queensland to fall short of the market's expectations and post a 7.7% decline in cash earnings next week.

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. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Man sits smiling at a computer showing graphs
Broker Notes

Morgans names more of the best ASX 200 shares to buy in December

These ASX 200 shares have been given the thumbs up by analysts at Morgans in December.

Read more »

A woman looks unsure as she ladles mixture into a pan surrounded by small appliances

My 2024 warning: Don't get (completely) lost in the passive income sauce

It's easy to become fixated on BIG yields to ease the cost of living pressures next year. Here's my word…

Read more »

a diverse groups of about twenty people stand together in a crowd staring to the front with angry and annoyed looks on their faces.
Share Market News

10 popular ASX stocks that faced shareholder revolts this AGM season

Investors vented their fury and frustration over high CEO salaries amid some mostly uninspiring share price performances this year.

Read more »

Smiling office workers fling a stack of papers into the air.
Share Market News

Here's how the ASX 200 market sectors stacked up this week

The ASX 200 gained 0.5% and the real estate sector led the way this week.

Read more »

A woman leaps into the air with loads of energy, in a lush green field.
Share Market News

Here are the top 10 ASX 200 shares today

Do you own any of today's top ASX 200 shares?

Read more »

Three Archer Materials scientists wearing white coats and blue gloves dance together in their lab after making a discovery
Healthcare Shares

Here's why I can't wait to buy Chemist Warehouse shares

Chemist Warehouse would ticks all of my boxes for a great investment.

Read more »

Four young friends on a road trip smile and laugh as they sit on roof of their car.
Share Market News

Why these 4 leading ASX 200 shares grabbed the Motley Fool's headlines this week

New all-time highs and a potential mega-merger saw these four ASX 200 shares leap into the Motley Fool’s headlines this…

Read more »

A young man goes over his finances and investment portfolio at home.
Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »