On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.3% to 8,960.5 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 expected to edge higher
The Australian share market looks set to rise slightly on Thursday following a decent night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points higher this morning. In the United States, the Dow Jones was up 0.3%, the S&P 500 rose 0.25%, and the Nasdaq edged 0.2% higher. However, the impending release of NVIDIA Corp (NASDAQ: NVDA) earnings after the market close in the US could have an impact on today's session.
Oil prices rise
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1% to US$63.86 a barrel and the Brent crude oil price is up 0.85% to US$67.80 a barrel. This was driven by falling US oil inventories.
More results
Qantas Airways Ltd (ASX: QAN) shares will be on watch today when the airline operator releases its FY 2025 results. But it isn't the only ASX 200 share releasing results. Bunnings and Kmart owner Wesfarmers Ltd (ASX: WES) and mining and mining services company Mineral Resources Ltd (ASX: MIN) will also be on watch when they release their respective results.
Gold price rises
It could be a decent session for ASX 200 gold shares including 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 0.5% to US$3,449.4 an ounce. This was caused by increased safe haven demand amid concerns over the U.S. Federal Reserve's independence.
Buy WiseTech shares
WiseTech Global Ltd (ASX: WTC) shares could be in the buy zone according to analysts at Bell Potter. This morning, the broker has retained its buy rating on the logistics solutions company's shares with a trimmed price target of $127.50. It said: "In our view the investment thesis and positive outlook on WiseTech remains intact despite the slightly disappointing guidance. Accordingly we have increased the multiples we apply in the PE ratio and EV/EBITDA valuations from 95x and 50x to 115x and 52.5x but there is no change in the 8.3% WACC we apply in the DCF. The net result is still a 6% reduction in our price target to $127.50 which is >15% premium to the share price so we maintain our BUY recommendation."
