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."