On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and edged lower. The benchmark index fell 0.2% to 9,053.8 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
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ASX 200 expected to rise
It looks set to be a good session for Australian investors on Thursday following a positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 28 points or 0.3% higher this morning. In the United States, the Dow Jones rose 0.2%, the S&P 500 climbed 0.2% and the Nasdaq pushed 0.15% higher.
ASX 200 result releases
Earnings season is going into overdrive on Thursday with a very large number of ASX 200 shares due to release their results. This includes Goodman Group (ASX: GMG), Medibank Private Ltd (ASX: MPL), Megaport Ltd (ASX: MP1), Super Retail Group Ltd (ASX: SUL), and Zip Co Ltd (ASX: ZIP).
Oil prices rise
ASX 200 energy shares including Woodside Energy Group Ltd (ASX: WDS) and Santos Ltd (ASX: STO) could have a good session after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 0.85% to US$85.65 a barrel and the Brent crude oil price is up 0.5% to US$91.49 a barrel. This was driven by an escalation in Middle East tensions.
Buy Evolution Mining shares
Evolution Mining Ltd (ASX: EVN) shares are in the buy zone according to analysts at Bell Potter. This morning, in response to the gold miner's record results, the broker has retained its buy rating with an improved price target of $15.55. It said: "EVN offers fully unhedged gold and copper exposure via a portfolio of high quality, long-life assets in Tier 1 jurisdictions, overseen by a high-quality management team. EVN has demonstrated its intention to increase shareholder returns and gold price exposure."
Gold price jumps
It could be a very positive session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price jumped overnight. According to CNBC, the gold futures price is up 3.6% to US$4,581.1 an ounce. This was driven by a heavy decline in US bond yields and the US dollar.
