5 things to watch on the ASX 200 on Thursday

It looks set to be a very red day for the ASX 200 index on Thursday.

A woman looks in anticipation at her laptop, watching eagerly.

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and recorded a decent gain. The benchmark rose 0.3% to 7,077.6 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to sink

The Australian share market looks set to open the day deep in the red on Thursday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 77 points or 1.1% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.85%, the S&P 500 is down 1.25%, and the NASDAQ is 1.6% lower. Soaring treasury yields are weighing on the market.

Oil prices charge higher

It could be a good session for ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 2.1% to US$88.45 a barrel and the Brent crude oil price is up 1.75% to US$91.48 a barrel. Stronger-than-expected demand in the US boost prices. In other news, Santos Ltd (ASX: STO) will be releasing its quarterly update this morning.

Buy BHP shares

The team at Goldman Sachs thinks investors should be buying BHP Group Ltd (ASX: BHP) shares. This morning, in response to the mining giant's quarterly update, the broker has retained its buy rating with an improved price target of $46.50. The broker said: "BHP reported a stronger than expected Sep Q operating result despite the usual scheduled maintenance in 1Q across most assets."

Gold price rises

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good session after the gold price raced higher overnight. According to CNBC, the spot gold price is up 1.4% to US$1,962.9 an ounce. Increased safe haven demand is supporting gold.

Telix quarterly

The Telix Pharmaceuticals Ltd (ASX: TLX) share price will be one to watch on Thursday. That's because after the market close yesterday, the radiopharmaceutical company released its third-quarter update and reported a 10.7% quarter on quarter increase in revenue to $133.6 million. This was driven by strong demand for its Illuccix product.

Motley Fool contributor James Mickleboro has positions in Telix Pharmaceuticals. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. 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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