On Thursday, the S&P/ASX 200 Index (ASX: XJO) carved out the smallest of gains. The benchmark index rose slightly to 7,611.2 points.
Will the market be able to build on this on Friday and end the week on a high note? Here are five things to watch:
ASX 200 expected to rise again
The Australian share market looks set to end the week in a positive fashion following a stunning night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 30 points or 0.4% higher this morning. In late trade on Wall Street, the Dow Jones is up 1.4%, the S&P 500 is up 2.2%, and the NASDAQ is up 3.1%.
Oil prices push higher
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a good finish to the week after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1% to US$78.65 a barrel and the Brent crude oil price is up 0.8% to US$83.73 a barrel. Signs of a tightening global crude market boosted prices.
Bapcor results
The Bapcor Ltd (ASX: BAP) share price will be on watch on Friday when the autoparts retailer releases its half-year results. Morgans said: "Market expecting a relatively weak result. Consensus expectations were set lower post BAP's 1Q24 downgrade and the recent CFO departure points to 'BTB' targets being at risk. Despite the market already expecting a relatively weak result, we think the core business outlook remains subdued and we would prefer to see the result to 'de-risk' any entry into the stock."
Gold price edges lower
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.1% to US$2,032.5 an ounce. Strong US economic data put pressure on the precious metal.
Qantas remains a buy
Qantas Airways Limited (ASX: QAN) shares are still a buy according to analysts at Goldman Sachs. In response to the release of the airline operator's half year results, the broker has retained its buy rating with an $8.05 price target. This implies over 50% upside from current levels. It said: "Earnings cuts, but another proof point on reset earnings capacity."
