On Wednesday, the S&P/ASX 200 Index (ASX: XJO) fought hard but ended the day slightly lower. The benchmark index fell a fraction to 8,579.4 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 rise
The Australian share market looks set to rise on Thursday following a positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 40 points or 0.45% higher this morning. In late trade in the United States, the Dow Jones is up 0.9%, the S&P 500 is up 0.5%, and the Nasdaq is 0.1% higher.
Oil prices climb
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Thursday after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up 0.4% to US$58.49 a barrel and the Brent crude oil price is up 0.45% to US$62.23 a barrel. This was despite the US reporting a smaller than expected reduction in crude stocks.
Premier Investments goes ex-div
Premier Investments Ltd (ASX: PMV) shares will be on watch on Thursday when they go ex-dividend for its latest payout. Back in September, the ASX 200 retail giant released its full year results and revealed a 31.1% jump in profit. This allowed the Smiggle and Peter Alexander owner to declare a 50 cents per share fully franked final dividend. This will be paid to eligible shareholders next month on 23 January.
Gold price rises
ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) will be on watch on Thursday after the gold price edged higher. According to CNBC, the gold futures price is up 0.2% to US$4,245.1 an ounce. Traders were bidding gold higher after US Federal Reserve cut interest rates.
Buy GYG shares
Morgans thinks that investors should be buying Guzman Y Gomez Ltd (ASX: GYG) shares after they hit a 52-week low. In response to its latest limited time offer for the BBQ Chicken Double Crunch, the broker has reiterated its buy rating. It said: "The product leverages existing ingredients, meaning no incremental complexity or cost for stores, a margin-friendly innovation that aligns with GYG's operational discipline. Management has repeatedly emphasised that menu innovation is a key lever for same-store sales (SSS) growth, and this launch reinforces that commitment. We reiterate our BUY rating."
