5 things to watch on the ASX 200 on Friday

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

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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."

Motley Fool contributor James Mickleboro has positions in Altium. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Altium and Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. 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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