On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled into the red. The benchmark index fell 0.8% to 8,561.8 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 rebound
The Australian share market looks set to rebound on Thursday following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 54 points or 0.6% higher this morning. In the United States, the Dow Jones was up 0.5%, the S&P 500 rose 0.3%, and the Nasdaq pushed 0.25% higher.
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 pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.25% to US$66.69 a barrel and the Brent crude oil price is up slightly to US$68.75 a barrel. A positive demand outlook gave prices a boost.
Santos update
Santos shares will also be on watch today when the energy giant releases its second quarter and half year production update. According to a note out of Macquarie, its analysts are expecting the company to report total production of 43.9mmboe for the first half of FY 2025. This is expected to underpin total sales of 45.9mmboe for the six months. Macquarie expects this to lead to total revenue of US$2,598 million and underlying EBITDAX of US$1,800 million.
Gold price rises
It could be a better session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.55% to US$3,354.5 an ounce. The gold price pushed higher amid speculation that US President Donald Trump could sack Federal Reserve Chair Jerome Powell.
Buy Amplitude Energy shares
The Amplitude Energy Ltd (ASX: AEL) share price could be in the buy zone according to analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating on the energy producer's shares with an improved price target of 28 cents. It said: "AEL's conventional gas assets deliver into Australia's east coast market. The company's next major development (the ECSP) commences towards the end of 2025, with drill targets considered very low risk. The ECSP is targeting 45TJ/day net production from 2028. A Gippsland Basin Reserves update is imminent, and debottlenecking could incrementally lift near-term production."
