On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a positive session and charged higher. The benchmark index rose 0.4% to 8,223 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 expected to fall
The Australian share market looks set to fall on Friday following a poor session in the United States. According to the latest SPI futures, the ASX 200 is expected to open 30 points or 0.35% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.35%, the S&P 500 is down 0.3%, and the Nasdaq is 0.15% lower. This followed the release of modestly higher than expected inflation data in the United States.
Oil prices jump
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 jumped overnight. According to Bloomberg, the WTI crude oil price is up 3.6% to US$75.87 a barrel and the Brent crude oil price is up 3.7% to US$79.41 a barrel. This was driven by concerns over supply impacts from the US storm and tensions in the Middle East.
Sell Guzman Y Gomez shares
Analysts at Goldman Sachs believe that investors should be selling Guzman Y Gomez Ltd (ASX: GYG) shares. In response to the quick service restaurant operator's first quarter update, the broker has retained its sell rating and $33.20 price target. It notes that "store openings off to a slower start in Aus for FY25." And while Guzman Y Gomez's FY 2025 forecasts have been maintained, Goldman points out that "consensus (and GSe) forecasts continue to highlight the expectation of FY25 results to beat prospectus numbers."
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a positive finish to the week after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.75% to US$2,645.9 an ounce. This was driven by traders adding to bets that the US Federal Reserve will deliver an interest rate cut next month after the jobless rate increased.
Buy Regis Resources shares
Regis Resources Ltd (ASX: RRL) shares could be good value according to analysts at Bell Potter. This morning, the broker has retained its buy rating on the gold miner's shares with an improved price target of $2.48 (from $2.02). It said: "RRL is a multi-mine gold producer with an all-Australian asset portfolio. We forecast free cash flow growth in FY25 and for RRL to benefit from a rising gold price. We retain our Buy recommendation."
