On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled lower. The benchmark index fell 0.7% to 8,818.5 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 fall
The Australian share market looks set to fall again on Thursday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% lower this morning. In the United States, the Dow Jones was up 0.6%, but the S&P 500 fell 0.1% and the Nasdaq dropped 0.3%.
Oil prices fall
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a tough session on Thursday after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.8% to US$64.01 a barrel and the Brent crude oil price is down 0.8% to US$67.93 a barrel. This was driven by concerns over US demand.
ASX 200 shares go ex-dividend
A number of ASX 200 shares are scheduled to go ex-dividend today and could trade lower. This includes infant formula company A2 Milk Company Ltd (ASX: A2M), hearing solutions company Cochlear Ltd (ASX: COH) contractor NRW Holdings Limited (ASX: NWH), and mining giant South32 Ltd (ASX: S32). The latter will be rewarding its shareholders with a fully franked 4 cents per share final dividend next month on 16 October.
Gold price tumbles
It could be a subdued session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price tumbled overnight. According to CNBC, the gold futures price is down 0.8% to US$3,693.8 an ounce. The precious metal dropped despite the US Federal Reserve cutting interest rates and suggesting two more cuts are coming this year.
Buy Sonic Healthcare shares
Sonic Healthcare Ltd (ASX: SHL) shares could be in the buy zone according to analysts at Bell Potter. This morning, the broker has retained its buy rating and $33.30 price target on the healthcare company's shares. It said: "Sonic Healthcare is a stock that looks attractive on a dividend screen, with rising yields and sustained earnings growth supporting the security of income for investors. SHL's performance has been inconsistent over previous periods where COVID-19 artificially inflated margins, as the business pivoted to provide testing services, with the subsequent decline post-COVID negatively impacting earnings."
