On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a poor session and dropped into the red. The benchmark index fell 0.6% to 7,029.2 points.
Will the market be able to bounce back on Friday and end the week on a high? Here are five things to watch:
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ASX 200 expected to rise
The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open 13 points or 0.2% higher this morning. Wall Street was closed for Thanksgiving, but European markets were higher. The DAX and the FTSE both rose 0.2%.
Oil prices fall
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could end the week poorly after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.95% to US$76.37 a barrel and the Brent crude oil price is down 0.8% to US$81.29 a barrel. Traders were selling oil after OPEC delayed its meeting.
AustralianSuper rejects Origin offer
Origin Energy Ltd (ASX: ORG) shares will be worth watching today after AustralianSuper rejected the revised takeover offer from Brookfied/EIG. The super fund said: "This latest low-ball offer strengthens AustralianSuper's view that the offer remains substantially below our estimate of Origin's long-term value."
Gold price edges higher
ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price edged higher overnight. According to CNBC, the spot gold price is up slightly to US$1,993.3 an ounce. A weaker US dollar boosted the precious metal.
Sell CBA shares
Commonwealth Bank of Australia (ASX: CBA) shares are overvalued according to analysts at Goldman Sachs. This morning, the broker has reiterated its sell rating on the banking giant's shares with an $81.64 price target. Goldman said: "CBA's consumer banking skew leaves its earnings more exposed to sector wide headwinds, including intense mortgage and deposit competition."
