5 things to watch on the ASX 200 on Thursday

Here's what to expect on the ASX 200 on Thursday.

A male investor wearing a white shirt and blue suit jacket sits at his desk looking at his laptop with his hands to his chin, waiting in anticipation.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was well and truly on form and stormed notably higher. The benchmark rose 1.4% to 7,105.9 points.

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

ASX 200 expected to edge lower

The Australian share market looks set to open the day lower on Thursday despite another positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 9 points or 0.1% lower this morning. In late trade on Wall Street, the Dow Jones is up 0.6%, the S&P 500 is up 0.35%, and the NASDAQ is 0.3% higher.

A2 Milk and other AGMs

A2 Milk Company Ltd (ASX: A2M) shares will be in focus today when the infant formula company holds its annual general meeting. The company is likely to provide an update on its performance during the first quarter at the event. Altium Limited (ASX: ALU) and Sonic Healthcare Ltd (ASX: SHL) will also be holding their events today.

Oil prices tumble

It looks set to be a tough session for ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 2% to US$76.70 a barrel and the Brent crude oil price is down 1.5% to US$81.23 a barrel. A large build in US stockpiles weighed on prices.

Life360 shares rated as a buy

The Life360 Inc (ASX: 360) share price could be heading even higher according to analysts at Goldman Sachs. This morning, in response to its quarterly update, Goldman has reiterated its buy rating on the location technology company's shares with a $10.50 price target. The broker said: "Even after today's share price performance, Life360 screens cheaply compared to domestic technology and global peers."

Gold price eases

ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued session after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.1% to US$1,964.7 an ounce. A stronger US dollar put pressure on the gold price.

Motley Fool contributor James Mickleboro has positions in Altium and Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Goldman Sachs Group, and Life360. The Motley Fool Australia has recommended A2 Milk and Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Market News

ASX shares could get a massive boost on Tuesday. Here's why

Australia's inflation is running hotter than other comparable economies, and experts are divided on how fast relief could be coming.

Read more »

Happy man working on his laptop.
Share Market News

5 things to watch on the ASX 200 on Monday

The ASX 200 is expected to start the week on a very positive note.

Read more »

Three young girls on a farm hold bunches of carrots triumphantly above their heads.
Dividend Investing

Income investors: 3 ASX dividend shares that could rally in 2024

Don't just grab the stocks with the highest yields. Check out these picks that have potential to bring back capital…

Read more »

Woman and man calculating a dividend yield.
Share Market News

3 things ASX investors should watch this week

The next few days will be massive for your stock portfolio. Keep your eyes on these events especially.

Read more »

three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot.
Broker Notes

Goldman Sachs says these ASX 200 shares can rise 20% to 50%

There could be some big returns on offer with these stocks in 2024.

Read more »

A young man talks tech on his phone while looking at a laptop. A financial graph is superimposed across the image.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave the thumbs up to these ASX shares last week. Why are they bullish?

Read more »

Man jumping in water with a floatable flamingo, symbolising passive income.
Investing Strategies

Looking to quit work and live off ASX passive income? Here's how I'd aim to make it happen

If you want to tell your boss where to go, you will have to read this.

Read more »

Animation of a man measuring a percentage sign, symbolising rising interest rates.
Share Market News

Here's what Westpac says the RBA will do with interest rates next week

Will the RBA increase rates again next week?

Read more »