On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and raced higher. The benchmark index rose 0.8% to 8,349.1 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to fall on Thursday following a relatively subdued night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 40 point or 0.5% lower this morning. In late trade in the United States, the Dow Jones is up 0.15%, the S&P 500 is up 0.1%, and the Nasdaq is flat.
Star running out of cash
Star Entertainment Group Ltd (ASX: SGR) shares will be on watch today after the struggling casino and resorts operator released an update on its cash position. The company revealed that its available cash at 31 December 2024 was $79 million, which is a reduction of $70 million from the previously reported 30 September 2024 balance of $149 million. It is now trying to find a way to meet conditions precedent to draw down $100 million from a debt facility but admits that "conditions remain challenging to meet given the Group's current circumstances."
Oil prices fall
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a poor session after oil prices pulled back overnight. According to Bloomberg, the WTI crude oil price is down 1.3% to US$73.29 a barrel and the Brent crude oil price is down 1.2% to US$76.14 a barrel. Traders were selling oil after the US dollar strengthened on Trump tariff talk.
Gold price rises
It could be a decent session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Wednesday after the gold price rose overnight. According to CNBC, the gold futures price is up 0.4% to US$2,675.6 an ounce. This follows the release of weaker than expected jobs data in the US.
QBE rated as a buy
QBE Insurance Group Ltd (ASX: QBE) shares could be good value according to analysts at Goldman Sachs. This morning, the broker has retained its buy rating and $22.50 price target on the insurance giant's shares. This implies potential upside of 14.5% for investors. It said: "We are Buy-rated on QBE because 1) QBE underlying trends look positive, 2) QBE's achieved rate increases continue to be ahead of loss cost inflation and rate adequate, 3) North America is on a pathway to improved profitability, 4) Valuation is not demanding, 5) Strong ROE."
