On Thursday, the S&P/ASX 200 Index (ASX: XJO) was in fine form and raced notably higher. The benchmark index rose 1.1% to close at record high of 9,019.1 points.
Will the market 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 following a poor night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 12 points or 0.15% lower this morning. On Wall Street, the Dow Jones was down 0.35%, the S&P 500 fell 0.4%, and the Nasdaq edged 0.35% lower.
Oil prices push higher
It could be a good finish to the week for ASX 200 energy shares such as 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 1.1% to US$63.40 a barrel and the Brent crude oil price is up 1% to US$67.53 a barrel. Russia-Ukraine peace uncertainty and positive demand signals boosted prices.
ASX 200 results
A number of ASX 200 shares will be releasing their results today and will be worth watching. This includes quick service restaurant operator Guzman Y Gomez Ltd (ASX: GYG), lenders mortgage insurer Helia Group Ltd (ASX HLI), poultry producer Inghams Group Ltd (ASX: ING), and buy now pay later provider Zip Co Ltd (ASX: ZIP).
Gold price edges lower
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a soft finish to the week after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.15% to US$3,383.1 an ounce. The precious metal eased ahead of a speech from U.S. Federal Reserve Chair Jerome Powell at the Jackson Hole symposium.
Buy Sonic Healthcare shares
Sonic Healthcare Ltd. (ASX: SHL) shares could be a bargain buy after crashing on Thursday according to Bell Potter. This morning, the broker has retained its buy rating on the healthcare company's shares with a trimmed price target of $33.30. It said: "Changes to working capital and interest expense estimates drive a c.1.2% reduction in our blended valuation to $33.30/sh. Despite the market reaction, we think the share price offers material upside for investors that appreciate steady compound earners."
