On Thursday, the S&P/ASX 200 Index (ASX: XJO) snapped its losing streak with a small gain. The benchmark index rose 0.1% to 8,640.7 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
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ASX 200 expected to rise
The Australian share market looks set to rise on Friday following a solid night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 51 points or 0.5% higher this morning. On Wall Street, the Dow Jones was up 0.75%, the S&P 500 rose 0.75%, and the Nasdaq climbed 0.9%.
Oil prices rise
ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) will be on watch on Friday after a decent night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.95% to US$102.00 a barrel and the Brent crude oil price is up 0.9% to US$106.55 a barrel. With no sign of a US-Iran peace deal being agreed, traders have been bidding oil prices higher.
Hold Graincorp shares
Graincorp Ltd (ASX: GNC) shares were out of form and sank 13% on Thursday following the release of its half-year results. The team at Bell Potter doesn't think this is a buying opportunity. This morning, the broker has retained its hold rating with a reduced price target of $5.90 (from $6.80). It said: "Global production forecasts for 2026/27 remain at elevated levels (~2% above the 5YR avg.), suggesting ongoing tight grain trading margins. Oilseed crush margins remain strong and have the potential to be a tailwind as hedge positions rollover."
Gold price falls
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 dropped overnight. According to CNBC, the gold futures price is down 1.1% to US$4,656 an ounce. Rising oil prices appear to have spooked traders. They may believe higher inflation could increase the risk of rate hikes.
Buy Catapult shares
Catapult Sports Ltd (ASX: CAT) shares are being undervalued by the market according to analysts at Bell Potter. This morning, the broker has retained its buy rating on the sports technology company's shares with a trimmed price target of $4.50 (from $4.75). It commented: "Catapult remains our key pick in the tech sector amongst mid cap stocks outside the S&P/ASX 100 index. We see little risk of AI disruption for the stock given its extensive proprietary data, multiple product platform and the hardware component to its solutions."
