On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a strong session and raced higher. The benchmark index rose 1.65% to 9,014.8 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 set for subdued session
The Australian share market looks set for a subdued session on Thursday following a relatively flat night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 1 point higher this morning. In late trade in the United States, the Dow Jones is down 0.1%, the S&P 500 is up 0.1% and the Nasdaq is flat.
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 stormed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.45% to US$64.88 a barrel and the Brent crude oil price is up 1.25% to US$69.68 a barrel. Improved demand and US-Iran tensions gave oil prices a boost.
Pro Medicus results
Pro Medicus Ltd (ASX: PME) shares will be on watch today when the health imaging technology company releases its half-year results. As well as its results, the market may be looking for management to ease concerns over AI disruption. Other ASX 200 shares that are releasing results today include Origin Energy Ltd (ASX: ORG) and Breville Group Ltd (ASX: BRG). The market will no doubt be interested to see how the latter is navigating US trade tariffs.
Gold price rises
ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good session on Thursday after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 1.6% to US$5,110.6 an ounce. Traders were buying the precious metal despite the release of strong US jobs data, which could lessen rate cut hopes.
Hold CSL shares
CSL Ltd (ASX: CSL) shares remain fully valued according to analysts at Bell Potter. In response to the biotechnology giant's half-year results, the broker has retained its hold rating with a reduced price target of $175.00. It said: "CSL now trades on an underlying PE of 16.5x in FY27, well below its historical average but remains above the global biopharma avg of ~15x. It faces the daunting prospect of hiring a new CEO to re-invigorate a lacklustre growth outlook in the face of headwinds on multiple fronts."
