On Thursday, the S&P/ASX 200 Index (ASX: XJO) had one of its best days of the year. The benchmark index raced 1.65% higher to 7,377.9 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 rise
The Australian share market looks set to end the week on a positive note despite a mixed session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 36 points or 0.5% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.2%, the S&P 500 is up 0.1%, and the NASDAQ is down 0.15%.
Oil prices charge higher
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a great finish to the week after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 3.3% to US$71.76 a barrel and the Brent crude oil price is up 3.3% to US$76.73 a barrel. A weaker US dollar and an improved 2024 demand outlook boosted prices.
Orora named as a buy
The Orora Ltd (ASX: ORA) share price could be in the buy zone according to analysts at Goldman Sachs. In response to the packaging company's trading update, the broker has retained its buy rating and $3.55 price target on its shares. This implies a potential upside of approximately 35% for investors from current levels.
Gold price continues to rise
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 2.5% to US$2,047.7 an ounce. Potential rate cuts in the US in 2024 have given gold a lift.
Dividend payday
A number of ASX 200 shares will be paying out their latest dividends today. This includes banking giant National Australia Bank Ltd (ASX: NAB), agricultural chemicals company Nufarm Ltd (ASX: NUF), and enterprise software provider TechnologyOne Ltd (ASX: TNE). NAB will also be holding its annual general meeting today.
