On Wednesday, the S&P/ASX 200 Index (ASX: XJO) ended its winning streak with a small decline. The benchmark index fell slightly to 7,660.4 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to fall again
The Australian share market looks set to fall again on Thursday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.3%, the S&P 500 has fallen 0.2%, and the Nasdaq is 0.5% lower.
Oil prices ease
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued session after oil prices eased overnight. According to Bloomberg, the WTI crude oil price is down 0.5% to US$78.39 a barrel and the Brent crude oil price is down 0.25% to US$83.44 a barrel. A rise in US inventories put pressure on prices.
Xero investor day
Xero Ltd (ASX: XRO) shares will be in focus on Thursday when the cloud accounting platform provider holds its inaugural investor day event. It's possible that the company could provide a trading update at the event, as well as medium term growth targets.
Gold price edges lower
It could be a weak session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.2% to US$2,040.2 an ounce. A stronger US dollar weighed on the precious metal.
Ramsay Health Care results
The Ramsay Health Care Ltd (ASX: RHC) share price will be on watch today when the private hospital operator releases its half-year results. Commenting on its expectations, Morgans said: "While post-COVID recovery has been slower than expected and inflationary pressure remains, we remain positive on the name, as activity levels continue to improve and operational efficiencies are moving in the right direction, with the long-term outlook strong, underpinned by market-leading positions and a unique, irreplaceable portfolio of assets."
