On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red again. The benchmark index fell 0.7% to 8,419.2 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to tumble
The Australian share market looks set to tumble again on Thursday despite it being a decent night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 53 point or 0.6% lower this morning. In late trade in the United States, the Dow Jones is up slightly, the S&P 500 is up 0.25%, and the Nasdaq is 0.2% higher.
Big results day
It is a very big day of results releases with a collection of well-known ASX 200 shares releasing their latest numbers. This includes ANZ Group Holdings Ltd (ASX: ANZ) with its first quarter update, Fortescue Ltd (ASX: FMG), Pilbara Minerals Ltd (ASX: PLS), Telstra Group Ltd (ASX: TLS), and Wesfarmers Ltd (ASX: WES) with their half year results, and Rio Tinto Ltd (ASX: RIO) with its full year results.
Oil prices rise
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.65% to US$72.31 a barrel and the Brent crude oil price is up 0.3% to US$76.05 a barrel. Supply concerns gave prices a lift.
Gold price eases
It could be a subdued session for ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.25% to US$2,941.6 an ounce. Traders appear to have been taking profit after strong gains recently.
James Hardie rated as a buy
James Hardie Industries plc (ASX: JHX) shares are good value according to analysts at Goldman Sachs. This morning, the broker has retained its buy rating with a slightly increased price target of $59.45. It said: "We see upside from cyclical improvement and strategic execution against higher value product mix targets, which has scope to substantially improve group profitability. We are Buy-rated on the stock."
The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Wesfarmers. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Wesfarmers. 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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