On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a disappointing session and sank deep into the red. The benchmark index fell 1.65% to 8,497.8 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:
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ASX 200 expected to edge lower
The Australian share market looks set to edge lower on Friday following a relatively poor night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 1 point lower this morning. In late trade on Wall Street, the Dow Jones is down 0.45%, the S&P 500 is down 0.3% and the Nasdaq is down 0.3%.
Oil prices fall
It could be a subdued finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 1.9% to US$94.52 a barrel and the Brent crude oil price is down 0.8% to US$106.53 a barrel. Oil prices fell after Israel revealed plans to help reopen the Strait of Hormuz.
Premier Investments results
Premier Investments Ltd (ASX: PMV) shares will be on watch today when the retailer releases its half-year results. The team at UBS believes the Smiggle and Peter Alexander owner will report Premier Retail sales of $460 million and net profit after tax of $99.3 million for the half. This is expected to be driven largely by a strong performance from the Peter Alexander brand, offsetting a weak performance from Smiggle.
Gold price sinks
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a poor finish to the week after the gold price sank overnight. According to CNBC, the gold futures price is down 5.15% to US$4,642.8 an ounce. Inflation and higher interest rate concerns weighed on the precious metal.
Buy Propel shares
Propel Funeral Partners Ltd (ASX: PFP) shares could be in the buy zone according to Bell Potter. This morning, the broker has reaffirmed its buy rating with a trimmed price target of $5.00. It said: "Within the underlying business, we see relatively less challenging comps in 2H26 as PFP cycles organic volume declines (particularly in Feb-Apr), while we expect the demographic tailwinds from an ageing baby boomer population to be a sizable catalyst from 2026 onwards. We see the trading update in May as a potential catalyst. We also view the freehold property portfolio valued at cost less depreciation of ~$246m as a strong hedge to the net gearing level of 2.3x."
