On Thursday, the S&P/ASX 200 Index (ASX: XJO) had an underwhelming session and slipped into the red. The benchmark index finished a fraction lower at 7,769.4 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:
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ASX 200 futures pointing higher
The Australian share market looks set to end the week on a positive note despite a relatively poor session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 8 points or 0.1% higher this morning. On Wall Street, the Dow Jones was up 0.8%, but the S&P 500 fell 0.25%, and the NASDAQ was 0.8% lower.
Oil prices climb
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a good finish to the week after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.95% to US$82.34 a barrel and the Brent crude oil price is up 0.9% to US$85.81 a barrel. Optimism over summer fuel demand continues to boost oil prices.
Buy Elders shares
The Elders Ltd (ASX: ELD) share price could be good value according to analysts at Bell Potter. This morning, its analysts have reaffirmed their buy rating and $9.30 price target on the agribusiness company's shares. It said: "Improving livestock turnover, the benefits of recent business investment and a stabilisation in agricultural input prices in our view support a recovering earnings growth profile in 2H24e-1H25e."
Gold price rises
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good finish to the week after the gold price stormed higher overnight. According to CNBC, the spot gold price is up 1.1% to US$2,372.4 an ounce. Rate cut optimism lifted demand for the precious metal.
Treasury Wine named as a buy
Treasury Wine Estates Ltd (ASX: TWE) shares are in the buy zone. That's the view of analysts at Goldman Sachs, which have reiterated their buy rating with an improved price target of $15.20. In response to its Penfolds update, the broker said: "Whilst stock reaction was muted given FY25 Penfolds EBITS guide ~3.5% below Visible Alpha consensus, we believe that the ~15% CAGR in FY26/27 EBITS excluding any price increase is strong and demonstrates management confidence in execution despite the highly volatile consumer environment. Additionally, we believe that the building blocks of the EBITS growth to FY27 is balanced and of high quality."
