On Thursday, the S&P/ASX 200 Index (ASX: XJO) recorded the smallest of gains. The benchmark index rose a fraction to 8,540 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:
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ASX 200 expected to charge higher
The Australian share market looks set to charge higher on Friday following a strong night of trade 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 up 0.7%, the S&P 500 is up 0.75%, and the Nasdaq is 1.05% higher.
Oil prices ease
ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) could have a subdued session after oil prices eased overnight. According to Bloomberg, the WTI crude oil price is down 0.2% to US$71.23 a barrel and the Brent crude oil price is down 0.3% to US$74.97 a barrel. This was driven by potential Ukraine peace talks.
Cochlear results
Cochlear Ltd (ASX: COH) shares will be on watch today when the hearing solutions company releases its half year results. A recent note out of Goldman Sachs reveals that its analysts have named Cochlear as a potential negative surprise this earnings season. It is expecting the company to report total revenue of $1,168 million and underlying net profit after tax of $200 million. This is 3.4% and 4.2% below consensus estimates, respectively.
Gold price rises
ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good session after the gold price rose overnight. According to CNBC, the gold futures price is up 0.8% to US$2,952.6 an ounce. This was driven by concerns over Trump's tariff plans.
Pro Medicus shares upgraded
Bell Potter thinks that Pro Medicus Limited (ASX: PME) shares are good value after a pull back on Thursday. According to a note, the broker has upgraded the health imaging technology company's shares to a buy rating with an improved price target of $330.00 (from $260.00). It said: "The PME full stack solution continues to wipe the floor with competitors – 10 contract announcements in the LTM including two new academic medical centres clients. FY25/26 revenues upgraded by 4% and 2% respectively. In addition we expect further growth in the cardiology space with the first small scale implementation to take place in April 2025. Following earnings revisions we upgrade to Buy and price target $330."
