On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had another tough session and tumbled deep into the red. The benchmark index was down 1.8% to 7,375 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to rocket
The Australian share market looks set to have one of its best sessions in history on Thursday following an incredible night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 489 points or 6.6% higher this morning. In the United States, the Dow Jones was up 7.9%, the S&P 500 rose 9.5%, and the Nasdaq jumped 12.2%. This was the third biggest gain in post-WWII history after President Trump reversed some tariffs.
Oil prices jump
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good day after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 5.1% to US$62.60 a barrel and the Brent crude oil price is up 4.6% to US$65.71 a barrel. Traders were buying oil after Trump lowered tariffs on most countries.
JB Hi-Fi upgraded
The team at Bell Potter thinks investors should be buying JB Hi-Fi Ltd (ASX: JBH) shares. This morning, the broker has upgraded the retail giant's shares to a buy rating with a $99.00 price target. It said: "We continue to view JBH as one of the most productive retailers globally with a leading revenue per Sqm metric and an operating margin (JBH Aus). We also strongly believe that JBH is well placed to grow supported by the market leadership as the technology category continues to win a larger share of wallet, despite some near-term gross margin pressures. With the market sell-off, we think the current valuation at ~20x CY25e P/E (BPe) appears attractive, and we upgrade our recommendation to BUY."
Gold price surges
It could be a great session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price surged higher overnight. According to CNBC, the gold futures price is up 3.8% to US$3,103.6 an ounce. The gold price had its best day in over two years.
Dividends being paid
A number of ASX 200 shares will be paying their latest dividends to shareholders this morning. This includes logistics solutions company Brambles Ltd (ASX: BXB), drinks giant Endeavour Group Ltd (ASX: EDV), and fashion jewellery retailer Lovisa Holdings Ltd (ASX: LOV). The latter is paying its eligible shareholders a 50 cents per share interim dividend today.
