On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form and stormed higher. The benchmark index rose 1.3% to 7,920.5 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to end the shortened week on a positive note following a good night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 12 point or 0.15% higher this morning. In the United States, the Dow Jones was up 1.1%, the S&P 500 rose 1.7%, and the Nasdaq stormed 2.5% higher.
Oil prices drop
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a poor session after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 2% to US$62.39 a barrel and the Brent crude oil price is down 1.8% to US$66.24 a barrel. This was driven by news that OPEC is planning to increase its output.
ResMed quarterly
The ResMed Inc. (ASX: RMD) share price will be one to watch on Thursday when the sleep disorder treatment company releases its third quarter update. According to a note out of Goldman Sachs, it is expecting ResMed to report total revenue of US$1,292 million (consensus: US$1,289 million) and non-GAAP net income of US$354 million (consensus: US$353 million). This will be an 8% and 13% increase over the prior corresponding period, respectively. It said: "Feedback from RMD's key US channel highlights ongoing strength in new patient starts and therapy compliance."
Gold price tumbles
It could be another tough session for ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price tumbled overnight. According to CNBC, the gold futures price is down 3.4% to US$3,303.2 an ounce. The gold price fell after trade war concerns eased.
Buy Telix shares
Telix Pharmaceuticals Ltd (ASX: TLX) shares could be heading even higher from here according to analysts at Bell Potter. In response to the release of its quarterly update, the broker has reaffirmed its buy rating and $36.00 price target on the biotech company's shares. It said: "TLX reported 1Q25 revenues of $186m relative to BPe of $174m. Global revenues from Illuccix US$151m, 9%↑ qoq and other revenues $35m being primarily manufacturing revenues following the recent acquisition of RLS Therapeutics."
