On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session but managed to finish slightly higher. The benchmark index rose 1.6 points to 8,724.5 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 despite a mixed night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 52 points or 0.6% higher this morning. On Wall Street, the Dow Jones was up 2.15%, but the S&P 500 was flat and the Nasdaq fell 0.8%.
Oil prices fall
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices fell again overnight. According to Bloomberg, the WTI crude oil price is down 0.7% to US$68.10 a barrel and the Brent crude oil price is down 0.6% to US$71.13 a barrel. US-Iran peace deal optimism has weighed on oil prices.
Buy Netwealth shares
Bell Potter thinks Netwealth Group Ltd (ASX: NWL) shares are undervalued. This morning, the broker has retained its buy rating and $30.00 price target on the investment platform provider's shares. This implies potential upside of approximately 38%. It said: "Our Buy recommendation is unchanged. NWL no longer trades as a leveraged play on financial markets, which is interesting. Given its increased scale, we would expect the opposite, with free carry having a bigger impact than flows. A shift back into global growth assets should also be supportive."
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a good finish to the week after the gold price charged higher overnight. According to CNBC, the gold futures price is up 1.1% to US$4,126.1 an ounce. This was driven by the release of US payrolls data, which the market appears to believe wasn't supportive of interest rate hikes.
Buy Chalice shares
Bell Potter has also recommended Chalice Mining Ltd (ASX: CHN) shares this morning. According to the note, the broker has reaffirmed its speculative buy rating and $4.00 price target on the mineral exploration company's shares. It said: "CHN's Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes. CHN is sufficiently funded to reach FID in 1HCY28."
