5 things to watch on the ASX 200 on Thursday

Earnings season is going up a gear on Thursday. Here's what to expect.

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) returned to form and record a decent gain. The benchmark index rose 0.45% to 7,615.8 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to open flat

The Australian share market looks set for a flat session on Thursday despite a solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day flat this morning. In late trade on Wall Street, the Dow Jones is up 0.45%, the S&P 500 has risen 0.8%, and the Nasdaq is 0.9% higher.

Oil prices rise

ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good day after a decent night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.7% to US$73.84 a barrel and the Brent crude oil price is up 0.7% to US$79.15 a barrel. Slower than expected production growth in the US boosted prices.

REA results

REA Group Ltd (ASX: REA) shares will be on watch today when the property listings company releases its half year results. According to a note out of Goldman Sachs, it is expecting EBITDA of $416 million and earnings per share of $1.85. This is broadly in line with the consensus estimate of $417 million and $1.87 per share. Goldman also notes that it will be looking at its "2H24 cost outlook given stronger market trends."

Gold price flat

ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a soft session after the gold price traded flat overnight. According to CNBC, the spot gold price is steady at US$2,051.2 an ounce. Traders appear undecided about where rates and gold are heading in the near term.

AGL half-year update

The AGL Energy Limited (ASX: AGL) share price will be in focus today when the energy giant releases its half year results. Investors may want to see if AGL remains on track to achieve its full year guidance. It is guiding to FY 2024 underlying EBITDA of between $1,875 million and $2,175 million underlying net profit between $580 million and $780 million.

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and REA Group. The Motley Fool Australia has recommended REA Group. 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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