5 things to watch on the ASX 200 on Friday

Will the market end the week on a high? Let's find out.

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) finished the session with the smallest of declines. The benchmark index fell half a point to 7,683 points.

Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to sink

The Australian share market looks set to end the week deep in the red following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 92 points or 1.2% lower this morning. On Wall Street, the Dow Jones was down 1%, the S&P 500 was down 0.45%, and the NASDAQ was down 0.65%. Traders were selling equities after interest rate cut hopes continued to fade.

Oil prices climb

ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a good finish to the week after oil prices climbed strongly overnight. According to Bloomberg, the WTI crude oil price is up 1.15% to US$83.75 a barrel and the Brent crude oil price is up 1.35% to US$89.21 a barrel. Oil prices rose in response to increasing geopolitical risks.

BHP's mega acquisition

The BHP Group Ltd (ASX: BHP) share price will be on watch on Friday after the mining giant made an approach to acquire Anglo American (LSE: AAL). The Big Australian has made an all scrip offer than values the global miner at 31.1 billion pounds (~A$60 billion). The merger would create the largest copper miner in the world and responsible for 10% of global output. BHP shares on the NYSE fell 3.5% overnight on the news.

Gold price rises

ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a reasonably positive session after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.3% to US$2,345.3 an ounce. Traders were buying gold following the release of economic data in the United States.

ResMed update

The ResMed Inc (ASX: RMD) share price will be in focus today when the sleep disorder treatment company releases its quarterly update. All eyes will be on how weight loss wonder drugs have (or have not) impacted the company's performance. Another focus will be the company's gross margin, with the market expecting this to come in at 57.6% for the quarter.

Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. 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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