On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a volatile day and ultimately ended it slightly lower. The benchmark index fell 0.1% to 8,933.9 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 to edge lower
The Australian share market looks set to edge lower on Thursday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points lower this morning. In late trade in the United States, the Dow Jones and the S&P 500 are flat, and the Nasdaq is up 0.3%.
Oil prices rise
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Thursday after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 1.3% to US$63.22 a barrel and the Brent crude oil price is up 1.25% to US$68.42 a barrel. This was driven by comments from Donald Trump that a "massive Armada is heading to Iran."
Boss Energy shares downgraded
Boss Energy Ltd (ASX: BOE) shares are fully valued according to analysts at Bell Potter. This morning, the broker has downgraded this uranium producer's shares to a hold rating with a $1.95 price target. It said: "We maintain our TP of $1.95/sh and reduce our recommendation to Hold (previously Buy). Our valuation assumes production at Honeymoon over the short 10Y mine life is limited to ~1.6Mlbs pa and costs remain elevated, until such a time that management have completed the work to guide otherwise. We have ascribed nil value to BOE's exploration assets at this point. NPAT changes are: FY26 +5%, FY27 -2% and FY28 nc."
Gold price jumps
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a very good session on Thursday after the gold price jumped overnight. According to CNBC, the gold futures price is up 4% to US$5,287 an ounce. This followed news that the US Federal Reserve kept interest rates unchanged, as was widely expected.
Mineral Resources update
Mineral Resources Ltd (ASX: MIN) shares will be on watch today when the mining and mining services company releases its quarterly update. All eyes will be on the profitability of its lithium operations following a rebound in prices. For the same reason, Liontown Ltd (ASX: LTR) shares will be watched carefully when it releases its highly anticipated quarterly update.
