5 things to watch on the ASX 200 on Thursday

A great day of trade is expected for Aussie investors today. Here's what to watch.

Smiling man with phone in wheelchair watching stocks and trends on computer

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) gave back its morning gains and slipped into the red. The benchmark index fell 0.2% to 8,213.3 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to storm higher

The Australian share market looks set to jump on Thursday following a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 114 point or 1.4% higher this morning. In late trade in the United States, the Dow Jones is up 1.7%, the S&P 500 is up 1.8%, and the Nasdaq is 2.3% higher. An encouraging US inflation report gave sentiment a boost.

Rio Tinto quarterly

Rio Tinto Ltd (ASX: RIO) shares will be on watch today when the mining giant releases its fourth quarter update. According to a note out of Goldman Sachs, it expects the miner to outperform expectations with iron ore shipments of 88.1Mt. This is up from 84.6Mt in the third quarter and ahead of the consensus estimate of 87.5Mt. Mined copper is expected to rise to 179kt but fall short of the consensus estimate of 182kt

Oil prices jump

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a great session after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 2.8% to US$79.67 a barrel and the Brent crude oil price is up 2.2% to US$81.65 a barrel. Traders were buying oil in response to sanctions on Russian oil.

Gold price rises

It could be a good session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Wednesday after the gold price charged higher overnight. According to CNBC, the gold futures price is up 1.2% to US$2,715.1 an ounce. This follows the release of softer than expected inflation data.

Origin shares downgraded

Origin Energy Ltd (ASX: ORG) shares could be fully valued according to analysts at Goldman Sachs. This morning, the broker has downgraded the energy giant's shares to neutral (from buy) with a $10.40 price target. This implies potential downside of 7% for investors from current levels. It said: " ORG remains well positioned to benefit from Australia's energy transition with the NEM's largest flexible gas generation fleet, strong cash flow from APLNG, and potential upside through Octopus, though we consider the stock fully valued after recent strong performance with risk for negative consensus valuation revisions on higher cash tax payments in FY25."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A diverse group of people form a circle at a park and raise their arms together.
Share Market News

Here are the top 10 ASX 200 shares today

It was a phenomenal day for ASX stocks this Thursday...

Read more »

A beautiful ocean vista is shown with a woman whose back is to the camera holding her arms up in triumph as she stands at the top of a rock feeling thrilled that ASX 200 shares are reaching multi-year high prices today
Bank Shares

Big ASX news: NAB shares hit 18-year high

The last time NAB shares were at this level was in November 2007.

Read more »

a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
Broker Notes

5 ASX All Ords shares upgraded to 'strong buy' consensus ratings

Brokers upgraded their ratings on these ASX All Ords stocks last month.

Read more »

A couple cheers as they sit on their lounge looking at their laptop and reading about the rising Redbubble share price
Broker Notes

2 more of the best ASX 200 shares to buy in February

The broker is feeling very bullish about these shares. Let's see what it is saying.

Read more »

Multiracial happy young people stacking hands outside - University students hugging in college campus - Youth community concept with guys and girls standing together supporting each other.
52-Week Highs

These 11 ASX 200 shares are hitting new 52-week highs today

These shares are on form and hitting new highs today. Let's find out what is happening.

Read more »

A man sits in casual clothes in front of a computer amid graphic images of data superimposed on the image, as though he is engaged in IT or hacking activities.
Technology Shares

2 ASX tech stocks to buy during an anticipated 15% to 20% sector pullback in 2025

Expert reveals 2 of his favourite tech stocks and at what prices we should buy them during a dip.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why BWP, Magellan, News Corp, and Winsome shares are pushing higher today

These shares are having a better day than most on Thursday. But why?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Beach Energy, Myer, Pexa, and Pinnacle shares are falling today

These shares are under pressure on Thursday. What's going?

Read more »