On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a good session and charged higher. The benchmark index was up 0.7% to 7,999 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to tumble
The Australian share market looks set to tumble on Thursday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 49 point or 0.6% lower this morning. In late trade in the United States, the Dow Jones is down 0.4%, the S&P 500 is down 1.2%, and the Nasdaq is 2.2% lower.
Oil prices rise
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1% to US$69.72 a barrel and the Brent crude oil price is up 1.1% to US$73.83 a barrel. A stronger than expected US fuel stock draw and Venezuelan supply concerns boosted prices.
Dividends being paid
Today is a big day for many Australian investors with a host of large ASX 200 shares rewarding their shareholders with their latest dividends. Among the companies making payments on Thursday are mining giants BHP Group Ltd (ASX: BHP) and Fortescue Ltd (ASX: FMG), energy giant AGL Energy Limited (ASX: AGL), supermarket leader Coles Group Ltd (ASX: COL), and lotteries company Lottery Corporation Ltd (ASX: TLC).
Gold price softens
It could be a subdued session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.1% to US$3,022.8 an ounce. The gold price softened after the US dollar strengthened.
Buy CSL shares
The team at Bell Potter is urging investors to buy CSL Ltd (ASX: CSL) shares. Following a review of the healthcare sector, the broker has reaffirmed its buy rating and $335.00 price target on the biotechnology giant's shares. This implies potential upside of 32% for investors over the next 12 months. It said: "CSL is trading at a 9-year low PE (22x) with a double-digit earnings growth outlook as Behring (particularly Ig) continues drive earnings despite headwinds elsewhere."
