On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.45% to 8,885.5 points.
Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to rise on Friday despite a poor night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 17 points or 0.2% higher this morning. In late trade on Wall Street, the Dow Jones is down 0.2%, the S&P 500 is down 0.9%, and the Nasdaq is sinking 1.45%.
Oil prices ease
It looks set to be a subdued finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices eased overnight. According to Bloomberg, the WTI crude oil price is down 0.1% to US$60.41 a barrel and the Brent crude oil price is down slightly to US$64.91 a barrel. Traders were selling oil after assessing the US-China trade truce
Buy Coles shares
Now could be the time to buy Coles Group Ltd (ASX: COL) shares according to analysts at Bell Potter. This morning, the broker has retained its buy rating and $24.30 price target on the supermarket giant's shares. It said: "Our Buy rating is unchanged. Continued delivery against 'Simplify & Save'' initiatives ($565m delivered to date vs. a target of $1Bn by FY27e), generating a return on ADC/CFC investments (~$1.45Bn investment and $103m of start-up costs in FY25) and a strengthening consumer backdrop are all reasons for our favourable view."
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good finish to the week after the gold price rose overnight. According to CNBC, the gold futures price is up 0.9% to US$4,037.2 an ounce. An interest rate cut in the US appears to have been the driver of this gain.
ResMed update
ResMed Inc. (ASX: RMD) shares will be on watch on Friday when the sleep disorder treatment company releases its first quarter update. Morgan Stanley highlights that the first quarter is traditionally a seasonally weak quarter. for ResMed As a result, it expects a 7% decline in revenue compared to the fourth quarter but a 5% increase on the prior corresponding period.
