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.