5 things to watch on the ASX 200 on Thursday

A better day is expected on the ASX 200 today.

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and sank deep into the red. The benchmark index fell 0.75% to 7,547.7 points.

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

ASX 200 expected to rebound

The Australian share market looks set to rebound on Thursday following a solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.5% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.1%, the S&P 500 has risen 0.5%, and the Nasdaq is 0.7% higher.

Oil prices tumble

ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) will be on watch after a tough night for oil prices. According to Bloomberg, the WTI crude oil price is down 1.5% to US$76.71 a barrel and the Brent crude oil price is down 1.4% to US$81.60 a barrel. Surging US crude stockpiles put pressure on oil prices.

Telstra results

Telstra Group Ltd (ASX: TLS) shares will be on watch today when the telco giant releases its half-year results. According to a note out of Goldman Sachs, it expects Telstra to report EBITDA of $4,054 million (versus the consensus estimate of $4,038 mllion) and earnings per share of 9 cents.

Gold price edges lower

ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a subdued day of trade after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.2% to US$2,003.7 an ounce. Traders were selling gold after rate cut hopes faded.

CBA shares rated as a sell

The team at Goldman Sachs believes investors should be selling their Commonwealth Bank of Australia (ASX: CBA) shares. In response to the bank's half-year results, the broker has reiterated its sell rating with a trimmed price target of $81.98. It said: "1H24 cash earnings were below our expectations driven by higher-than-expected BDDs (no provision releases)."

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. The Motley Fool Australia has positions in and has recommended Telstra 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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