On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a very disappointing session and dropped deep into the red. The benchmark index fell 1.15% to 8,322.8 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:
Image Source: Getty Images
ASX 200 expected to rise
The Australian share market looks set to rise on Friday despite a poor night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 23 points or 0.3% higher this morning. In late trade on Wall Street, the Dow Jones is down 1.3%, the S&P 500 is down 0.65%, and the Nasdaq is 0.7% lower.
Oil prices rise
ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) could have a decent session after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up 0.2% to US$72.40 a barrel and the Brent crude oil price is up 0.55% to US$76.46 a barrel. This was driven by data showing a gasoline and distillate draw down in the US, as well as concerns about supply disruptions in Russia.
Telix results
Telix Pharmaceuticals Ltd (ASX: TLX) shares will be on watch today after the pharmaceutical company released its full year results following the market close on Thursday. Telix reported an impressive 56% increase in revenue to $783.2 million and an 860% jump in profit after tax of $49.9 million. Looking ahead, management is guiding to revenue of $1.18 billion to $1.23 billion for FY 2025. This represents an increase of approximately 51% to 57%, respectively, year on year.
Gold price hits record high
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 to a new record overnight. According to CNBC, the gold futures price is up 0.6% to US$2,953.8 an ounce. Safe haven demand boosted the precious metal.
Buy Telstra shares
Goldman Sachs thinks that Telstra Group Ltd (ASX: TLS) shares are good value even after storming higher on Thursday. In response to the telco giant's half year results, the broker has reaffirmed its buy rating and $4.50 price target. It said: "Strong 1H25 EBITDA, with beats across all key segments. We outline a range of sequential benefits into 2H25 (Ex 1) which should more than offset headwinds, reiterating our confidence of TLS achieving the top half of its A$8.5-$8.7bn EBITDA guidance (GSe A$8.62bn); (2) DPS growing +6% to 9.5¢ (in-line with GSe) and the announced $750mn on-market buyback are both positive, with the buyback earlier than we expected."
