On Thursday, the S&P/ASX 200 Index (ASX: XJO) had another strong session. The benchmark index rose a further 0.7% to 7,614.3 points.
Will the market be able to build on this on Friday and end 2023 on a high? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to end the year on a subdued note despite a positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 21 points or 0.3% lower this morning. In late trade on Wall Street, the Dow Jones is up 0.2%, the S&P 500 is up 0.15%, and the NASDAQ is up 0.25%.
Oil prices fall
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a difficult end to the week after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 3.1% to US$71.84 a barrel and the Brent crude oil price is down 1.6% to US$78.37 a barrel. Easing Red Sea disruption was behind the declines.
Iron ore prices fall
BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) shares will be in focus on Friday after the iron ore price rally ran out of steam. The spot benchmark iron ore price is down 1.8% to US$138.70 a tonne.
Gold price ease
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 edged lower overnight. According to CNBC, the spot gold price is down 0.7% to US$2,078.7 an ounce. Traders were taking profit after US bond yields increased.
Eagers Automotive cyber incident
Eagers Automotive Ltd (ASX: APE) shares will be on watch today when the automotive retail giant returns from its trading halt. On Wednesday, the company requested a trading halt so that it could prepare an announcement relating to a cyber incident.
