On Thursday, the S&P/ASX 200 Index (ASX: XJO) ran out of steam and dropped into the red. The benchmark index fell 0.45% to 7,504.1 points.
Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to edge lower
The Australian share market looks set to end the week on a subdued note despite a rebound on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 2 points lower this morning. In late trade on Wall Street, the Dow Jones is up 0.45%, the S&P 500 is up 0.6%, and the NASDAQ is up 0.9%.
Oil prices fall
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a soft finish to the week after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.4% to US$73.91 a barrel and the Brent crude oil price is down 0.4% to US$79.40 a barrel. Oil prices fell after Angola revealed that it would quit OPEC.
Iron ore prices lift
BHP Group Ltd (ASX: BHP) shares had a strong session on Wall Street overnight and are likely to replicate this on the ASX boards on Friday. This was driven partly by a decent rise in iron ore prices. The spot benchmark iron ore price rose 2.6% to US$137.35 a tonne.
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.35% to US$2,054.5 an ounce. Strong US economic data boosted rate cut prospects.
Dividend payday
A couple of ASX 200 shares will be paying out their latest dividends today. This includes banking giant ANZ Group Holdings Ltd (ASX: ANZ) and gold giant Newmont Corporation (ASX: NEM). The former will be paying a total of 94 cents per share to its shareholders.
