On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form and ended the session lower. The benchmark index fell 0.25% to 8,160 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 expected to sink
The Australian share market looks set to fall on Friday following a disappointing session in the United States. According to the latest SPI futures, the ASX 200 is expected to open 48 points or 0.6% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.55%, the S&P 500 is down 1.5%, and the Nasdaq is 2.4% lower. The latter was driven by heavy declines from Microsoft and Meta.
Oil prices storm higher
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 stormed higher overnight. According to Bloomberg, the WTI crude oil price is up 2.5% to US$70.29 a barrel and the Brent crude oil price is up 0.9% to US$73.17 a barrel. Strong US fuel demand gave prices a lift.
Coles rated neutral
Coles Group Ltd (ASX: COL) shares are fully valued according to analysts at Goldman Sachs. In response to its quarterly update, the broker has retained its neutral rating on the supermarket giant's shares with a trimmed price target of $18.50. It said: "COL reported an in-line 1Q25 sales update with in-line Supermarket sales with high quality comparable growth achieved vs WOW despite not having a collectibles program and no negative alert on margins. Post the management call, we stay Neutral with an updated TP of A$18.50."
Gold price falls
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a poor end to the week after the gold price dropped overnight. According to CNBC, the gold futures price is down 1.6% to US$2,757.3 an ounce. The gold price consolidated after reaching a record high. Though, it is on course for its fourth month of gains in a row.
AGMs
A number of ASX 200 shares are holding their annual general meetings on Friday and could provide updates at their events. Among the companies holding their meetings today are network as a service provider Megaport Ltd (ASX: MP1), New Zealand based telco Spark New Zealand Ltd (ASX: SPK), and leading insurance broker Steadfast Group Ltd (ASX: SDF).
