On Thursday, the S&P/ASX 200 Index (ASX: XJO) recovered from a shaky started to record a decent gain. The benchmark index rose 0.5% to 7,698.7 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:
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ASX 200 expected to edge higher
The Australian share market looks set to end the week in a positive fashion following a decent night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 8 points or 0.1% higher this morning. In late trade on Wall Street, the Dow Jones is down slightly, the S&P 500 is up 0.3%, and the NASDAQ is up 0.5%.
Oil prices soften
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a subdued finish to the week after oil prices edged lower overnight. According to Bloomberg, the WTI crude oil price is down 0.3% to US$78.25 a barrel and the Brent crude oil price is down slightly to US$83.66 a barrel. Higher than expected US inventories has put pressure on prices.
Life360 results
The Life360 Inc (ASX: 360) share price will be on watch on Friday when the location technology company releases its FY 2023 results. Goldman Sachs is forecasting subscription revenue of US$221.7 million for the year, which represents annual growth of 51%. EBITDA is expected to come in at US$15.9 million, which is the top end of Life360's guidance range of US$12 million to US$16 million.
Gold price rises
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good session after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.5% to US$2,054.6 an ounce. Gold hit a one-month high after US inflation data came in line with expectations.
Xero remains a buy
Xero Ltd (ASX: XRO) shares are a top buy according to Goldman Sachs. In response to its investor day event, the broker has reiterated its buy rating on the cloud accounting platform provider's shares with an improved price target of $152.00. This implies almost 20% upside for investors over the next 12 months.
