5 things to watch on the ASX 200 on Friday

The ASX 200 index is expected to have a subdued finish to the week.

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form again and charged higher. The benchmark index rose 0.75% to 7,087.3 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 fall

The Australian share market looks set to end the week in the red following a mixed session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 17 points or 0.25% lower this morning. In late trade on Wall Street, the Dow Jones is up 1.1%, the S&P 500 is flat, and the NASDAQ is down 0.6%.

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could end the week in the red after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 2.3% to US$76.06 a barrel and the Brent crude oil price is down 0.3% to US$82.85 a barrel. Scepticism over OPEC's planned cuts weighed on prices.

Premier Investments AGM

Premier Investments Limited (ASX: PMV) shares will be on watch on Friday when the retail conglomerate holds its annual general meeting. The company is likely to provide the market with an update on the performance of its Peter Alexander and Smiggle brands at the event.

Gold price falls

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price fell overnight. According to CNBC, the spot gold price is down 0.5% to US$2,035.8 an ounce. Profit-taking appears to be weighing on the precious metal this morning.

Buy Woolworths shares

Goldman Sachs has been looking at the retail sector and has reiterated its buy rating and $42.40 price target on Woolworths Group Ltd (ASX: WOW) shares. The broker has also reaffirmed its buy rating and $14.40 price target on Super Retail Group Ltd (ASX: SUL) due to its focus on "more resilient categories."

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