5 things to watch on the ASX 200 on Thursday

It looks set to be another great session for Aussie investors today.

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.4% to 7,769 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to climb again

The Australian share market looks set for another good session on Thursday after a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 51 points or 0.65% higher this morning. In the United States, the Dow Jones was up 0.25%, the S&P 500 rose 1.2% and the Nasdaq jumped 2%. The S&P 500 hit a record high overnight.

Oil prices rebound

ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good session after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 1.2% to US$74.15 a barrel and the Brent crude oil price is up 1.2% to US$78.47 a barrel. Traders appear to believe that oil has been oversold this week.

Mineral Resources' $1.3b asset sale

The Mineral Resources Ltd (ASX: MIN) share price will be one to watch today. That's because the mining and mining services company has just announced a major asset sale. The company has entered into a binding agreement with Morgan Stanley Infrastructure Partners for the sale of a 49% interest in the Onslow Iron project's dedicated haul road. Management expects the sale to generate total proceeds of $1.3 billion. Mineral Resources will retain a 51% interest in the asset and have exclusive rights to use, operate and maintain the road.

Gold price rises

It could be a good day for ASX 200 gold miners such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) today after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 1.1% to US$2,373.3 an ounce. The precious metal rose after bond yields retreated.

Miners set to rise

Mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) look set to rebound on Thursday after a tough few days. BHP shares rose overnight on both the London Stock Exchange and New York Stock Exchange, which bodes well for today's session. This was driven by a rebound in commodity prices. For example, the copper price rose 2% to US$4.63 a pound.

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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