On Thursday, the S&P/ASX 200 Index (ASX: XJO) gave back its early gains to finish the day lower. The benchmark index edged a fraction lower to 8,840.7 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 fall
The Australian share market looks set to fall on Friday following a poor night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 26 points or 0.3% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.3%, the S&P 500 is down 0.6%, and the Nasdaq is 1.5% lower.
Oil prices ease
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 pulled back overnight. According to Bloomberg, the WTI crude oil price is down 0.7% to US$79.05 a barrel and the Brent crude oil price is down 0.75% to US$84.32 a barrel. This is despite rising tensions between the US and Iran.
Buy Netwealth shares
Bell Potter thinks Netwealth Group Ltd (ASX: NWL) shares are good value. In response to the investment platform provider's quarterly update, the broker has retained its buy rating and $30.00 price target. It said: "Our Buy rating and target price are unchanged. NWL remains on track to deliver free cash flow margins in-line with 5Y historical standards, balancing growth investments and profitability. Market share cadence and the current multiple make this attractive."
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 1.8% to US$3,979 an ounce. Increasing US interest rate hike bets are weighing on the precious metal.
Buy Harvey Norman shares
Bell Potter sees a lot of value in Harvey Norman Holdings Ltd (ASX: HVN) shares. This morning, the broker has retained its buy rating on the retail giant's shares with a trimmed price target of $6.00. This implies potential upside of 26%. In addition, a dividend yield greater than 6% is expected in FY 2027. It said: "While our views on FY27e sees challenging conditions for retailers with a recovery weighted to 2H, on our revised estimates HVN continues to trade at a 1-year forward P/E of ~13x (as per BPe) which appears attractive."
