5 things to watch on the ASX 200 on Friday

Here's what to expect on the final trading day of the year.

A male investor wearing a white shirt and blue suit jacket sits at his desk looking at his laptop with his hands to his chin, waiting in anticipation.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Eagers Automotive Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A woman ponders a question as she puts money into a piggy bank with a model plane and suitcase nearby.
Share Market News

If I invest $10,000 in Qantas shares, how much passive income will I receive in 2024?

Here's what analysts are predicting from the airline operator.

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Broker Notes

These ASX 200 shares could rise 20% to 50%

Big returns could be on the cards according to analysts.

Read more »

Modern accountant woman in a light business suit in modern green office with documents and laptop.
Value Investing

Looking for ASX value shares? Here's 1 I'd buy and 1 I'd avoid!

It's not an easy exercise to identify which stocks are undervalued and which ones are simply terrible. Here's an example…

Read more »

A young girl looks up and balances a pencil on her nose, while thinking about a decision she has to make.
Opinions

Will I be buying Zip shares now the company has turned a profit?

Is now the right time to buy this BNPL stock -- or not?

Read more »

a man with hands in pockets and a serious look on his face stares out of an office window onto a landscape of highrise office buildings in an urban landscape
Opinions

1 ASX dividend stock down 55% to buy right now

Here's why I think this beaten-up stock could be an opportunity.

Read more »

Three analysts look at tech options on a wall screen
Share Market News

Here's how the ASX 200 market sectors stacked up this week

ASX tech shares are on fire, leading the 11 market sectors for a third consecutive week.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Market News

Here are the top 10 ASX 200 shares today

The ASX 200 clocked a few new all-time highs this Friday.

Read more »

A young couple stands next to a real estate agent in an empty apartment they are inspecting
Share Market News

How ASX shares vs. property performed in February

We reveal the property price growth for each city and regional market and the top 5 risers of the ASX…

Read more »