5 things to watch on the ASX 200 on Friday

Will the market end the week on a high? Let's find out.

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) ended its losing streak with a decent gain. The benchmark index rose 0.5% to 6,925.5 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to edge higher

The Australian share market looks set to end the week on a mildly positive note despite a subdued session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 6 points or 0.1% higher this morning. In late trade on the United States, the Dow Jones is flat, the S&P 500 is down 0.1%, and the NASDAQ is down 0.1%.

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices dropped again overnight. According to Bloomberg, the WTI crude oil price is down 2.1% to US$82.43 a barrel and the Brent crude oil price is down 1.85% to US$84.23 a barrel. Demand concerns are weighing on oil prices.

Sell Adbri shares

Adbri Ltd (ASX: ABC) shares are overvalued according to analysts at Goldman Sachs. This morning, the broker has downgraded the building materials company's shares to a sell rating with a $1.85 price target. It said: "We sit -4%/-6% behind Visible Alpha consensus EBIT in FY24/25 with a more gradual margin improvement (despite sitting 1%/-1% vs consensus revenues in FY24/25)."

Gold price edges lower

ASX 200 gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) could have a soft finish to the week after the gold price edged lower overnight. According to CNBC, the spot gold price is down slightly to US$1,834.1 an ounce. Higher for longer interest expectations mean gold is on course for its ninth consecutive decline.

Dividends being paid

A number of ASX 200 shares will be rewarding their shareholders with their latest dividend payments today. This includes waste management company Cleanaway Waste Management Ltd (ASX: CWY), gold miner Evolution Mining Ltd (ASX: EVN), telco Spark New Zealand Ltd (ASX: SPK), and software company WiseTech Global Ltd (ASX: WTC).

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 and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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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