On Thursday, the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark index rose 0.4% to 8,224 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 rise again
The Australian share market looks set to rise again on Friday despite a poor session in the United States. According to the latest SPI futures, the ASX 200 is expected to open 65 points or 0.8% higher this morning. In late trade on Wall Street, the Dow Jones is down 0.2%, the S&P 500 is down 0.3%, and the Nasdaq is 0.3% lower.
Oil prices higher
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a decent finish to the week after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.4% to US$68.70 a barrel and the Brent crude oil price is up 0.4% to US$72.56 a barrel. This was despite news that a large oil surplus is expected next year.
Mineral Resources update
Mineral Resources Ltd (ASX: MIN) shares will be on watch today after the embattled miner was forced to answer more questions from the Australian Stock Exchange. It responded: "Between 2012 to 2023, MIN afforded rent relief to Ship Agency Services Pty Ltd (SAS) and Propel Marine Pty Ltd (Propel), entities in which Mr Ellison's daughter has an interest. In FY2023, the related party nature of the arrangement was identified and action was taken to bring it to an end."
Gold price softens
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued day after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.2% to US$2,580.7 an ounce. The precious metal slumped to a two-month low after the US dollar continued to strengthen.
Buy Xero shares
Xero Ltd (ASX: XRO) shares remain good value despite hitting a record high on Thursday. This morning, Goldman Sachs has reaffirmed its conviction buy rating and $201.00 price target on the cloud accounting platform provider's shares. It said: "Xero reported 1H25 Sales/EBITDA -3%/+10% vs GSe. Key positives: (1) The much lower than expected 1H25 opex ratio – even if benefiting from capitalized R&D – drove a stronger than expected earnings outcome."
