On Thursday, the S&P/ASX 200 Index (ASX: XJO) gave back its early gains and ended up with another decline. The benchmark index fell 0.5% to 7,749.1 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 rise
The Australian share market looks set to edge higher on Friday despite another selloff in the United States. According to the latest SPI futures, the ASX 200 is expected to open 13 points or 0.15% higher this morning. In late trade on Wall Street, the Dow Jones is down 1.15%, the S&P 500 is down 1.2%, and the Nasdaq is 1.6% lower.
Oil prices fall
ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) could have a tough session after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 1.7% to US$66.55 a barrel and the Brent crude oil price is down 1.5% to US$69.86 a barrel. Traders were selling oil on concerns that tariff wars could impact demand.
Pinnacle's Korean deal
Pinnacle Investment Management Group Ltd (ASX: PNI) shares will be on watch on Friday after the investment company announced that the National Pension Service of Korea (NPS) has made a strategic investment in Pinnacle affiliate, Metrics Credit Holdings. It has agreed to acquire a 4.17% interest in Metrics for $50 million. Proceeds will be used to support future growth initiatives, including potential acquisitions and the development of new investment strategies.
Gold price jumps
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good session after the gold price jumped overnight. According to CNBC, the gold futures price is up 1.7% to US$2,995.5 an ounce. The gold price hit a record high on tariff war concerns.
Seek named as a buy
The team at Bell Potter believes that Seek Ltd (ASX: SEK) could be an ASX 200 share to buy. This morning, the broker has initiated coverage on the job listings giant's shares with a buy rating and $27.00 price target. This implies potential upside of 20% for investors. It said: "SEK's largest marketplace (Aus) can potentially see ad volumes increase from macro tailwinds driven by an RBA cutting cycle, while also driving Group yield and margin improvements through its unified platform."
