On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and ended the day a touch lower. The benchmark index fell 0.1% to 8,206.3 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 open flat
The Australian share market looks set to open the day flat on Friday following a relatively mixed session in the United States. According to the latest SPI futures, the ASX 200 is expected to open right where it ended yesterday's session this morning. In late trade on Wall Street, the Dow Jones is down 0.3%, but the S&P 500 is up 0.3% and the Nasdaq is 0.75% higher. The latter is being boosted by Tesla (NASDAQ: TSLA) shares, which are up 22% at the time of writing.
Oil prices fall
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a subdued finish to the week after oil prices slipped into the red overnight. According to Bloomberg, the WTI crude oil price is down 0.7% to US$70.29 a barrel and the Brent crude oil price is down 0.6% to US$74.50 a barrel. Traders were selling oil amid worries that slow economic growth in Europe could reduce energy demand.
WiseTech CEO steps back
WiseTech Global Ltd (ASX: WTC) shares will be on watch today after the logistics solutions company's embattled CEO, Richard White, stepped back from the role with immediate effect. However, White won't be leaving the company. Instead, after a short period of leave, he will commence a new full-time, long-term consulting role focused on product and business development.
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 pushed higher overnight. According to CNBC, the gold futures price is up 0.7% to US$2,749.1 an ounce. Safe haven demand was the driver of this gain.
ResMed quarterly
ResMed Inc (ASX: RMD) shares will be on watch on Friday when the sleep disorder treatment company releases its latest quarterly update. The market is expecting the company to report a gross margin of 59.1% for the period, which will be a significant increase year on year. On the top line, UBS is forecasting quarterly revenue of US$1,254 million. This is 5% ahead of the consensus estimate of approximately US$1,248 billion.
