On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and slipped into the red. The benchmark index fell slightly to 8,323 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 storm higher
The Australian share market looks set for a strong session on Friday following a good night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 76 points or 0.9% higher this morning. In late trade on Wall Street, the Dow Jones is up 1.2%, the S&P 500 is up 0.6%, and the Nasdaq is 0.1% higher.
Oil prices rise
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a good finish to the week after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.7% to US$69.93 a barrel and the Brent crude oil price is up 1.7% to US$74.01 a barrel. Escalating tensions between Russia and Ukraine has given oil prices a lift.
Annual general meetings
A number of ASX 200 shares are holding their annual general meetings on Friday and could provide trading updates at their events. Among the companies holding meetings are infant formula company A2 Milk Company Ltd (ASX: A2M), fashion jewellery retailer Lovisa Holdings Ltd (ASX: LOV), network as a service provider Megaport Ltd (ASX: MP1), data centre operator Nextdc Ltd (ASX: NXT), and logistics solutions company WiseTech Global Ltd (ASX: WTC).
Gold price rises
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good day after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.9% to US$2,675.2 an ounce. Safe haven demand took the precious metal to a one-week high.
Buy Web Travel shares
Web Travel Group Ltd (ASX: WEB) shares are a buy according to analysts at Goldman Sachs. This morning, the broker has reaffirmed its buy rating and $6.70 price target on the business to business travel technology company. Commenting on its accounting update, the broker said: "Given immaterial immediate impact to FY24/1H25 earning and the company to announce 1H25 results on November 27th, we make no changes to our financial forecasts or target price."
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 Lovisa, Megaport, Nextdc, Web Travel Group Limited, and WiseTech Global. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Lovisa, Megaport, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended A2 Milk and Lovisa. 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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