5 things to watch on the ASX 200 on Friday

Aussie investors look set to have a good finish to the week.

Two brokers analysing stocks.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form and edged higher. The benchmark index rose 0.2% to 7,587 points.

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

ASX 200 poised to rise

The Australian share market looks set to end the week on a positive note thanks to a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 21 points or 0.3% higher this morning. On Wall Street, the Dow Jones was up 0.85%, the S&P 500 rose 0.9%, and the NASDAQ was 1.55% higher.

Oil prices rise

ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a better session after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up slightly to US$79.03 a barrel and the Brent crude oil price is up 0.3% to US$83.69 a barrel. Oil prices recovered after sinking to a seven-week low yesterday.

Macquarie results

The Macquarie Group Ltd (ASX: MQG) share price will be one to watch on Friday when the investment bank releases its FY 2024 results. According to a note out of Goldman Sachs, its analysts are expecting Macquarie to report cash earnings of $3,481 million. This will be down a sizeable 32% on last year's numbers. This is expected to lead to Macquarie paying a final dividend of $3.70 per share,

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 0.1% to US$2,312.9 an ounce. Traders appear to have been buying the dip in the price of the precious metal.

Buy Woolworths shares

Goldman Sachs thinks investors should be buying Woolworths Group Ltd (ASX: WOW) shares following yesterday's tumble. In response to the supermarket giant's quarterly update, the broker has reiterated its buy rating with a reduced price target of $39.40. The broker said: "While WOW's 3Q sales were in-line with GSe, the stock traded weaker due to management seeing a challenging 12mth outlook with intensifying competition and low-single digit cost inflation." However, Goldman stays "positive on WOW as a digital growth leader, believing 3Q24 will be the worst of market share loss."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A man slumps crankily over his morning coffee as it pours with rain outside.
Materials Shares

Why did this ASX All Ords stock just crash 24%?

What is weighing down this lithium stock today? Let's find out.

Read more »

Young woman using computer laptop with hand on chin thinking about question, pensive expression.

Should you buy Telstra stock on a pullback?

Is this telco a buy for value hunters?

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Share Fallers

Why did the Core Lithium share price just crash 6%?

Investors are bidding down the Core Lithium share price today.

Read more »

Sports fans looking at smart phone representing surging pointsbet share price
Share Gainers

Guess which ASX All Ords share just rocketed 25% on an earnings upgrade

Investors are bidding up the ASX All Ords share following an improved FY 2024 earnings outlook.

Read more »

Young man sitting at a table in front of a row of pokie machines staring intently at a laptop. looking at the Crown Resorts share price
Mergers & Acquisitions

Are Star shares now rolling the dice on a rescue bid?

Rumour is that a US-based casino operator is ready to revamp this fallen star.

Read more »

A man closesly watch a clock, indicating a delay or timing issue on an ASX share price movement
Mergers & Acquisitions

BHP shares charging higher as the clock ticks down on the Anglo American takeover

BHP has less than three days before the clock runs down on its $64 billion Anglo American takeover bid.

Read more »

A bored woman looking at her computer, it's bad news.
Share Market News

These are the 10 most shorted ASX shares

Let's see which shares short sellers are targeting this week.

Read more »

A cool young man walking in a laneway holding a takeaway coffee in one hand and his phone in the other reacts with surprise as he reads the latest news on his mobile phone
Broker Notes

Morgans says these ASX stocks can rise 20% (and pay big dividends!)

The broker believes some very big returns could be on the cards over the next 12 months.

Read more »