On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a poor session and dropped into the red. The benchmark index fell 0.3% to 8,709.4 points.
Will the market bounce back from this on Friday and end the week on a high? Here are five things to watch:
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ASX 200 expected to fall
The Australian share market looks set to fall on Friday following a mixed night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 39 points or 0.45% lower this morning. On Wall Street, the Dow Jones was down 0.7%, the S&P 500 rose 0.1%, and the Nasdaq edged 0.2% higher.
Oil prices rise
It could be a decent finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.3% to US$66.09 a barrel and the Brent crude oil price is up 1.1% to US$69.24 a barrel. This was driven by US trade optimism and a drop in crude stockpiles.
Deep Yellow downgraded
Deep Yellow Ltd (ASX: DYL) shares are fully valued now according to analysts at Bell Potter. This morning, the broker has downgraded the uranium producer's shares to a speculative hold rating with an improved price target of $1.85 (from $1.45). It said: "Our valuation is increased to A$1.85/sh (previously $1.45/sh) on adjustments to our schedule and upside scenarios. With the TSR from current prices being below our hurdle rate we have downgraded our recommendation to Speculative Hold (from Buy)."
Gold price falls
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a poor finish to the week after the gold price fell overnight. According to CNBC, the gold futures price is down 0.7% to US$3,373.1 an ounce. Safe haven demand reduced as trade optimism lifted risk appetite.
Graincorp shares upgraded
Graincorp Ltd (ASX: GNC) shares are in the buy zone according to analysts at Bell Potter. This morning, the broker has upgraded the grain exporter's shares with an improved price target of $8.45 (from $7.85). It said: "We upgrade our rating from Hold to Buy. Having consideration for current crop indicators and near-term rainfall forecasts (in crucial yield development months) we see risk to the upside to the Jun'25 ABARE forecast. In this light we see upside risk to consensus FY26e crop receipts and potentially upside to oilseed margins should current crush returns hold."
