5 things to watch on the ASX 200 on Friday

The ASX 200 is expected to have one of its best days in a while on Friday.

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a much-needed strong session. The benchmark index rose 0.9% to 6,899.7 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 jump

The Australian share market looks set to end the week on a very positive note following another strong session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 78 points or 1.1% higher this morning. In late trade on the United States, the Dow Jones is up 1.6%, the S&P 500 is up 1.85%, and the NASDAQ is 1.8% higher. Falling treasury yields boosted investor sentiment.

Oil prices storm higher

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could end the week on a high following a strong night for oil prices. According to Bloomberg, the WTI crude oil price is up 2.6% to US$82.49 a barrel and the Brent crude oil price is up 2.6% to US$86.59 a barrel. Traders have been buying oil since the Fed and Bank of England held firm with rates.

Macquarie half-year results

The Macquarie Group Ltd (ASX: MQG) share price will be on watch today when the investment bank releases its half-year results. Goldman Sachs is expecting the company to report a cash net profit after tax of $1,632 million, which will be down 29% on the prior corresponding period. The consensus estimate is $1,774 million, which implies a 23% reduction on last year's numbers.

Gold price rises

ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a decent finish to the week after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.3% to US$1,992.9 an ounce. Traders appear to be betting that we have seen peak interest rates in the US.

CSR shares named as buy

Goldman Sachs believes CSR Limited (ASX: CSR) shares are good value at current levels. This morning, the broker has put a buy rating and $6.50 price target on the building products company's shares. It said: "The near term remains supported by the large backlog of houses under construction, with CSR's products supplied primarily towards the back end of a house build."

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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. 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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