On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.45% to 8,885.5 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:
ASX 200 expected to rise
The Australian share market looks set to rise on Friday despite a poor night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 17 points or 0.2% higher this morning. In late trade on Wall Street, the Dow Jones is down 0.2%, the S&P 500 is down 0.9%, and the Nasdaq is sinking 1.45%.
Oil prices ease
It looks set to be a subdued finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices eased overnight. According to Bloomberg, the WTI crude oil price is down 0.1% to US$60.41 a barrel and the Brent crude oil price is down slightly to US$64.91 a barrel. Traders were selling oil after assessing the US-China trade truce
Buy Coles shares
Now could be the time to buy Coles Group Ltd (ASX: COL) shares according to analysts at Bell Potter. This morning, the broker has retained its buy rating and $24.30 price target on the supermarket giant's shares. It said: "Our Buy rating is unchanged. Continued delivery against 'Simplify & Save'' initiatives ($565m delivered to date vs. a target of $1Bn by FY27e), generating a return on ADC/CFC investments (~$1.45Bn investment and $103m of start-up costs in FY25) and a strengthening consumer backdrop are all reasons for our favourable view."
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good finish to the week after the gold price rose overnight. According to CNBC, the gold futures price is up 0.9% to US$4,037.2 an ounce. An interest rate cut in the US appears to have been the driver of this gain.
ResMed update
ResMed Inc. (ASX: RMD) shares will be on watch on Friday when the sleep disorder treatment company releases its first quarter update. Morgan Stanley highlights that the first quarter is traditionally a seasonally weak quarter. for ResMed As a result, it expects a 7% decline in revenue compared to the fourth quarter but a 5% increase on the prior corresponding period.
The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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