On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was on form and raced higher. The benchmark index rose 1.3% to 8,793.6 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
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ASX 200 expected to jump
The Australian share market looks set for a good session on Thursday following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 105 points or 1.2% higher this morning. In the United States, the Dow Jones was up 1.25%, the S&P 500 rose 1.45%, and the Nasdaq jumped 2%.
Buy Life360 shares
Life360 Inc. (ASX: 360) shares could be a strong buy according to Bell Potter. This morning, the broker has retained its buy rating and $35.50 price target on the location technology company's shares. It said: "Life360 will report its 1Q2026 result next Tuesday, 12th May and we expect the company to meet if not slightly exceed its flagged expectations for the quarter of y-o-y MAU growth <20%, adjusted EBITDA margin in the "low double digits", device revenue down 50% on pcp and a negative hardware GM."
Oil prices sink
ASX 200 energy shares including Woodside Energy Group Ltd (ASX: WDS) and Santos Ltd (ASX: STO) could have a poor session on Thursday after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 6.8% to US$95.30 a barrel and the Brent crude oil price is down 7.7% to US$101.41 a barrel. This was driven by optimism that a peace deal will soon be signed by the US and Iran.
Super Retail update
Super Retail Group Ltd (ASX: SUL) shares will be on watch on Thursday after the retailer released a trading update. Super Retail revealed that group like-for-like sales are currently up 0.4% during the second half. It said: "Sales momentum across all four brands was adversely affected by the onset of the Middle East conflict. Inflationary pressures, including higher fuel prices and rising interest rates, together with concerns around fuel availability weighed on consumer sentiment, with the impact most pronounced over the key Easter trading period."
Gold price storms higher
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good session on Thursday after the gold price stormed higher overnight. According to CNBC, the gold futures price is up 3.1% to US$4,708.3 an ounce. Speculation that a US-Iran peace deal is coming was behind the move. Peace could mean lower fuel prices, which could limit inflation and rate hikes.
