On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a volatile session and ended the day in the red. The benchmark index fell 0.1% to 8,531.2 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
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ASX 200 expected to fall
The Australian share market looks set to fall on Thursday following a relatively poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.35% lower this morning. In the United States, the Dow Jones was down 0.1%, the S&P 500 was a fraction lower, and the Nasdaq rose 0.1%.
Oil prices rise
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent session after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 0.35% to US$75.11 a barrel and the Brent crude oil price is up slightly to US$76.546 a barrel. Oil prices have been rising this week amid concerns over supply from the Middle East.
Buy Sonic Healthcare shares
The Sonic Healthcare Ltd (ASX: SHL) share price could be dirt cheap according to analysts at Bell Potter. This morning, the broker has initiated coverage on the pathology company's shares with a buy rating and $33.70 price target. It said: "The TP represents a c.28% premium to the current price, in addition to an expected dividend yield of c.4%. SHL typically trades at a c.27% premium to the XJO, but this has narrowed to c.13%. Short-term catalysts include completing the LADR acquisition and the forthcoming FY25 results to at least meet consensus expectations."
Gold price falls
It could be a poor session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price pulled back overnight. According to CNBC, the gold futures price is down 0.7% to US$3,382.8 an ounce. This follows news that the US Federal Reserve elected to keep interest rates on hold.
National Storage dividend announced
National Storage REIT (ASX: NSR) shares will be on watch today after the self-storage giant declared its latest dividend. According to the release, the company plans to reward shareholders with a 5.6 cents per share final dividend. Its shares will go ex-dividend for this on 27 June. After which, it will be paid to eligible shareholders on 2 September.
