On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a poor session and dropped notably lower. The benchmark index fell 0.7% to 7,058.4 points.
Will the market be able to bounce back on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to fall again
The Australian share market looks set to end the week in the red following a relatively poor session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 13 points or 0.2% lower this morning. In late trade in the United States, the Dow Jones is down 0.4%, the S&P 500 is down 0.1%, and the NASDAQ is down 0.1%.
Oil prices sink
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could end the week deep in the red after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 4.9% to US$72.90 a barrel and the Brent crude oil price is down 4.7% to US$77.39 a barrel. Supply growth and demand concerns weighed on prices.
Altium rated neutral
Goldman Sachs continues to sit on the fence when it comes to Altium Limited (ASX: ALU) shares. This morning, in response to the electronic design software company's investor day update, it has retained its neutral rating and $47.00 price target. It said: "Enterprise presents a significant revenue opportunity for Altium, and while FY26 aspirations remain ahead of GSe, we see upside risk if customer growth/ARR starts to scale. However, we remain Neutral noting ongoing volume headwinds for Octopart."
Gold price rises
ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a positive finish to the week after the gold price rose overnight. According to CNBC, the spot gold price is up 1.15% to US$1,986.7 an ounce. Traders believe that the US Federal Reserve will pause its rate hikes.
Graincorp rated as a buy
Graincorp Ltd (ASX: GNC) shares could have plenty of upside according to Bell Potter. This morning, the broker has put a buy rating and $9.50 price target on its shares. It said: "Trading at 5.4-6.1x through the cycle PBTDA, valuation is undemanding, and we would expect a further step change in through-the-cycle EBITDA if oilseed crush capacity additions are pursued."
