On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher. The benchmark index rose 0.25% to 8,969.8 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
Image source: Getty Images
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 33 points or 0.35% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.5%, the S&P 500 is down 0.25%, and the Nasdaq is 0.1% lower.
Oil prices fall
It looks set to be a poor finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 1.85% to US$61.39 a barrel and the Brent crude oil price is down 1.8% to US$65.08 a barrel. Oil prices fell in response to the Israel-Hamas ceasefire.
Rare earths surge
Iluka Resources Ltd (ASX: ILU) and Lynas Rare Earths Ltd (ASX: LYC) shares will be on watch today after rare earths stocks surged on Wall Street following news that China is tightening restrictions on exports. According to CNBC, this has fuelled market speculation that the Trump administration will move more aggressively to invest in a domestic supply chain.
Gold price tumbles
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a poor finish to the week after the gold price tumbled overnight. According to CNBC, the gold futures price is down 1.9% to US$3,992.3 an ounce. This may also have been driven by the ceasefire in the Middle East.
Buy Develop Global shares
Bell Potter thinks that Develop Global Ltd (ASX: DVP) shares could be a top buy. This morning, the broker has retained its buy rating on the miner's shares with an improved price target of $5.40. It said: "DVP provides investors with direct leverage to critical and strategic minerals including copper and zinc, with prices exhibiting strong growth in recent months. This price momentum coincides with ramping production at Woodlawn, supporting the company's near-term earnings and FCF outlook; spot prices are 7% and 16% higher than our FY26 forecast for copper and zinc, respectively. Enhanced Sulphur Springs economics underpins our valuation upgrade, with de-risking over the next 12 months expected."
