On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form again and dropped further into the red. The benchmark index rose 0.6% to 8,094.7 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 sink
The Australian share market looks set to sink on Friday following a selloff in the United States. According to the latest SPI futures, the ASX 200 is expected to open 76 points or 0.95% lower this morning. In late trade on Wall Street, the Dow Jones is down 1.4%, the S&P 500 is down 2.2%, and the Nasdaq is 3% lower.
Oil prices edge higher
ASX 200 energy shares such as Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) could have a better session than most after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up 0.1% to US$66.39 a barrel and the Brent crude oil price is up 0.3% to US$69.50 a barrel. Traders were buying oil after it hit a multi-year low.
Qantas named as a buy
Qantas Airways Ltd (ASX: QAN) shares may have risen an incredible 95% over the past 12 months, but Goldman Sachs doesn't believe it is too late to invest. This morning, the broker has retained its buy rating on the airline operator's shares with an improved price target of $11.80. It said: "QAN's earnings capacity has sustainably improved relative to pre-COVID, which provides a solid foundation for QAN's next stage of growth."
Gold price eases
ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price edged higher overnight. According to CNBC, the gold futures price is down slightly to US$2,924.8 an ounce. Higher treasury yields put pressure on the gold price.
Shares going ex-dividend
Another group of ASX 200 shares will be going ex-dividend this morning and could trade lower. This includes Ampol Ltd (ASX: ALD), Viva Energy Group Ltd (ASX: VEA), and Endeavour Group Ltd (ASX: EDV). The latter declared a 12.5 cents per share fully franked interim dividend with its half year results last month. This will be paid to eligible shareholders next month on 10 April.
