On Thursday, the S&P/ASX 200 Index (ASX: XJO) fought hard but failed to get into positive territory. The benchmark index fell slightly to 8,927.5 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 22 points or 0.25% higher this morning. In late trade on Wall Street, the Dow Jones is down 0.05%, the S&P 500 is down 0.55%, and the Nasdaq is down 1.4%. The latter was impacted by a 12% decline by Microsoft (NASDAQ: MSFT) shares.
Oil prices charge higher
It could be a good finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 3.3% to US$65.34 a barrel and the Brent crude oil price is up 3.25% to US$70.62 a barrel. This was driven by news that Donald Trump is considering strikes on Iran.
ResMed results
ResMed Inc. (ASX: RMD) shares will be on watch on the ASX 200 on Friday when the sleep disorder treatment company releases its second quarter update. The consensus estimate is for ResMed to report second quarter revenue growth of 9% along with a gross margin of 62.1%.
Gold price edges higher
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a relatively good finish to the week after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.1% to US$5,308.5 an ounce. Safe haven demand has been driving gold higher this week.
Buy Liontown shares
Liontown Ltd (ASX: LTR) shares could be heading higher according to Bell Potter. This morning, the broker has retained its buy rating on the lithium miner's shares with a trimmed price target of $2.42 (from $2.48). The broker said: "With current lithium price strength, LTR can rapidly generate cash to support incremental production expansions and shareholder returns. Kathleen Valley is highly strategic in terms of scale, long project life and location in a tier-one mining jurisdiction. LTR has offtake contracts with top-tier EV and battery OEMs. The company has a strong balance sheet with long tenor debt finance."
