On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled into the red. The benchmark index fell 0.7% to 9,030 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 poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.2% lower this morning. In late trade in the United States, the Dow Jones is down 0.7%, the S&P 500 is down 0.5%, and the Nasdaq is 0.95% lower.
Oil prices rise
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Thursday after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 3.4% to US$59.17 a barrel and the Brent crude oil price is up 3.1% to US$63.20 a barrel. This was driven by higher than expected demand in the US.
Annual general meetings
A number of ASX 200 shares are holding their annual general meetings today and could provide the market with trading updates. Among the companies holding events are stock exchange operator ASX Ltd (ASX: ASX), hearing solutions company Cochlear Ltd (ASX: COH), insurance giant Insurance Australia Group Ltd (ASX: IAG), and retailer Super Retail Group Ltd (ASX: SUL).
Gold price recovers slightly
It could be a better session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price recovered slightly from a savage selloff a day earlier. According to CNBC, the gold futures price is up 0.3% to US$4,121.7 an ounce. The gold price was down as much as 6% from its high at one stage.
Buy Telix shares
Bell Potter thinks that investors should be buying Telix Pharmaceuticals Ltd (ASX: TLX) shares. In response to the commencement of the BiPASS study, Bell Potter has retained its buy rating and $23.00 price target on its shares. It said: "BiPASS represents a significant label expansion opportunity that may add ~750-800k PSMA scans to the addressable market. We believe this is yet another example of TLX innovation in prostate cancer management driving shareholder value. FY26/FY27 revenues are modestly upgraded following the recent change to revenue guidance. We maintain our Buy rating."
