On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and edged into the red. The benchmark index fell 0.15% to 8,742.8 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 tumble
The Australian share market looks set to fall on Friday following a poor night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 61 points or 0.7% lower this morning. On Wall Street, the Dow Jones was down 0.75%, the S&P 500 fell 0.4%, and the Nasdaq edged slightly lower.
Oil prices fall
It could be a subued finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 0.8% to US$69.42 a barrel and the Brent crude oil price is down 0.95% to US$72.55 a barrel. This appears to have been driven by trade tariff concerns.
ResMed results
ResMed Inc (ASX: RMD) shares will be on watch today when the sleep disorder treatment company releases its fourth quarter and full year results. A strong result is expected, so the team at Bell Potter will be focusing more on what management says. It explains: "What we are watching. Update and commentary on existing product approvals in RoW (AirSense11) and new product launches."
Gold price eases
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a relatively soft finish to the week after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.2% to US$3,345.3 an ounce. This was despite tariff uncertainty ahead of Trump's 1 August deadline.
Buy Champion Iron shares
Champion Iron Ltd (ASX: CIA) shares were sold off on Thursday following the release of the iron ore miner's quarterly update. Bell Potter believes this has created a buying opportunity. This morning, the broker has retained its buy rating and $5.40 price target on Champion Iron's shares. It said: "Production was impacted by ore hardness, as CIA had previously flagged and likely to persist until 2H FY26. Gross realised prices averaged US$106/t against the P65 index of US$108/t; revenue was C$390m (BP est. $394m), EBITDA C$58m (BP est. $76m, VA consensus $85m (range C$55-111m)). […] While current geopolitics has shifted the focus away from carbon emissions, we ultimately expect government policy in CIA's target markets (EU) and the growth in DRI steel production to be supportive. We expect free cash flow will continue to support dividends."
