On Thursday, the S&P/ASX 200 Index (ASX: XJO) continued its positive run and carved out a small gain. The benchmark index rose 0.1% to 8,617.3 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 give back yesterday's gains on Friday despite a relatively positive night in Europe. According to the latest SPI futures, the ASX 200 is expected to open 31 points or 0.35% lower this morning. Wall Street was closed for Thanksgiving but in Europe the DAX was up 0.2%, the CAC rose slightly, and the FTSE edged a fraction higher.
Oil prices rise
It could be a good finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.8% to US$59.10 a barrel and the Brent crude oil price is up 0.4% to US$63.39 a barrel. Traders appear to believe that oil prices have been oversold.
Buy Catapult shares
The team at Morgans thinks investors should be buying Catapult Sports Ltd (ASX: CAT) shares. The broker has initiated coverage on the sports performance technology provider with a buy rating and $6.25 price target. It said: "A scalable platform and strong SaaS metrics should see CAT join the 'Rule of 40' club by FY27. We initiate coverage on Catapult Sports (CAT) with a Buy recommendation and a A$6.25 per share price target."
Gold price softens
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued finish to the week after the gold price fell overnight. According to CNBC, the gold futures price is down 0.3% to US$4,153.6 an ounce. Traders were taking profit after the precious metal hit a two-week high on rate cut optimism.
Buy Nick Scali shares
Nick Scali Limited (ASX: NCK) shares could be in the buy zone according to Bell Potter. This morning, the broker has initiated coverage on the furniture retailer with a buy rating and $27.00 price target. It said: "We initiate coverage of Nick Scali (NCK) with a Buy rating at a $27.00/share Price Target. NCK is one of Australia's largest furniture retailers competing within the middle to upper end of the Australian furniture market and growing its global presence via the UK entry."
