On Thursday, the S&P/ASX 200 Index (ASX: XJO) had one of its worst days of the year and crashed deep into the red. The benchmark index fell 1.7% to 8,168.2 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 fall again
The Australian share market looks set for another red session on Friday despite a rebound in the United States. According to the latest SPI futures, the ASX 200 is expected to open 34 points or 0.4% lower this morning. In late trade on Wall Street, the Dow Jones is up 0.6%, the S&P 500 is up 0.5%, and the Nasdaq is 0.55% higher.
Oil prices fall
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a poor finish to the week after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 0.6% to US$70.17 a barrel and the Brent crude oil price is down 0.7% to US$72.89 a barrel. Concerns over higher interest rates has hit sentiment this week.
Dividend pay day
Today is a good day for owners of ANZ Group Holdings Ltd (ASX: ANZ) and GQG Partners Inc (ASX: GQG) shares. That's because both ASX 200 shares will be rewarding their shareholders with their latest dividends later today, just in time for some last minute Christmas shopping. The big four bank is paying out 83 cents per share, whereas fund manager GQG Partners is paying 3.7 cents per share to its shareholders.
Gold price sinks
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a tough session after the gold price sank into the red overnight. According to CNBC, the gold futures price is down 1.45% to US$2,614.6 an ounce. Traders were selling gold after US economic data supported the US Federal Reserve's hawkish stance.
Buy HMC shares
HMC Capital Ltd (ASX: HMC) shares could be great value after being sold off this month according to analysts at Bell Potter. This morning, the broker has upgraded the alternative asset manager's shares to a buy rating with an improved price target of $13.50 (from $9.05). It said: "We think the share price pull-back provides an attractive entry point as the platform is reaching a scale and breadth sweet spot juncture which could see fee-earning capability increase further yet, and screens inexpensively vs. key global alternative AM and real estate fund manager peers."
