On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.25% to 8,145.6 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to fall on Friday despite a strong night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 29 points or 0.35% lower this morning. On Wall Street, the Dow Jones was up 0.2%, the S&P 500 rose 0.6%, and the Nasdaq charged 1.5% higher.
Oil prices rise
ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) could have a good session after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 1.4% to US$59.02 a barrel and the Brent crude oil price is up 1.35% to US$61.89 a barrel. This was driven by news that US President Trump is placing new sanctions on Iran.
Buy Woolworths shares
The Woolworths Group Ltd (ASX: WOW) share price could be good value according to analysts at Goldman Sachs. In response to the retail giant's quarterly update, the broker has reaffirmed its buy rating with an improved price target of $36.50. It said: "WOW is trading at FY26 P/E of ~23.8x vs historical avg since 2018 of ~24.2x with GSe forecast FY25-27e EPS CAGR of ~21.6%. We continue to believe that WOW has a strategic advantage in omni-channel and digital assets, and refocusing on productivity under stabilised leadership should be positive in improving returns."
Gold price drops
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a tough finish to the week after the gold price dropped to a two-week low. According to CNBC, the gold futures price is down 2.1% to US$3,247.3 an ounce. Trade war optimism reduced demand for safe haven assets.
WiseTech acquisition
WiseTech Global Ltd (ASX: WTC) shares will be on watch today after the company confirmed that it is looking to make a major acquisition. The logistics solution is in discussions with US based e2open (NYSE: ETWO), but it warns that they "are indicative and there is no certainty that a transaction will result and, if a transaction does result, when or on what terms such a transaction may occur." A price of $3.5 billion has been touted by Goldman Sachs.
