5 things to watch on the ASX 200 on Thursday

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

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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.

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