On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.4% to 9,127.8 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 edge lower
It looks set to be a soft session for Australian investors on Thursday following a subdued night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points lower this morning. In the United States, the Dow Jones fell 0.2%, the S&P 500 was a fraction lower, and the Nasdaq edged 0.1% lower.
ASX 200 result releases
Earnings season continues on Thursday with another group of ASX 200 shares due to release their results. This includes Bunnings owner Wesfarmers Ltd (ASX: WES), airline operator Qantas Airways Ltd (ASX: QAN), mining and mining services company Mineral Resources Ltd (ASX: MIN), diversified miner South32 Ltd (ASX: S32), and fund manager Magellan Financial Group Ltd (ASX: MFG).
Oil prices fall
ASX 200 energy shares Woodside Energy Group Ltd (ASX: WDS) and Santos Ltd (ASX: STO) could have a subdued session after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.6% to US$81.89 a barrel and the Brent crude oil price is down 1.3% to US$87.45 a barrel. This was driven by positive developments in the Middle East.
Buy DroneShield shares
DroneShield Ltd (ASX: DRO) shares are in the buy zone according to analysts at Bell Potter. This morning, in response to the counter-drone technology company's half-year results, the broker has retained its buy rating with a trimmed price target of $2.40. It said: "We expect RFRecon and new high-moat next gen products to drive continued contract wins, particularly from Europe where DRO has a leading presence in the CUAS EW vertical. Top end of CY26 revenue guidance looks achievable. Retain Buy."
Gold price falls
It could be a poor session for ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price fell overnight. According to CNBC, the gold futures price is down 1% to US$4,647.8 an ounce. Traders were selling the precious metal following the release of US inflation data.
