On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and finished lower. The benchmark index fell 0.25% to 8,762.5 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 following a good night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 8 points or 0.1% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.25%, the S&P 500 is up 0.75%, and the Nasdaq is 1.25% higher.
Oil prices slide
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices pulled back overnight. According to Bloomberg, the WTI crude oil price is down 1.85% to US$72.15 a barrel and the Brent crude oil price is down 2.1% to US$76.42 a barrel. This has been driven by a de-escalation in US-Iran tensions.
Hold Jumbo shares
Bell Potter thinks Jumbo Interactive Ltd (ASX: JIN) shares are fully valued following a strong gain on Thursday. This morning, the broker has retained its hold rating with an improved price target of $7.20. In response to the release of a trading update, Bell Potter said: "Although we are encouraged with the improvement in Dream US and Stride, we continue to see risks to market share as TLC's offering improves and as new players play lotteries. We await evidence of positive market share data during periods of strong Powerball jackpots before we turn more positive on the stock. Additional risks include SaaS AI disruption and TLC reseller renewal risk."
Gold price rises
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a decent finish to the week after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 1.25% to US$4,133.9 an ounce. A pullback in oil prices has reduced inflation and interest-rate hike fears.
Accumulate Netwealth shares
Morgans sees value in Netwealth Group Ltd (ASX: NWL) shares at current levels. In response to a deal with Morgan Stanley Wealth Management, the broker has reiterated its accumulate rating with a $27.50 price target. It commented: "NWL's recent win with Morgan Stanley Wealth Management represents strong early validation of NWL's iHIN offering and expansion into the broker segment of the market, which represents a net-flows tailwind into FY27-FY30. We see NWL's incremental investment into FY27 as a doubling down on its strategy to drive further long-term scale benefits."
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 Woodside Energy Group Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Jumbo Interactive and Netwealth Group. The Motley Fool Australia has positions in and has recommended Netwealth Group. The Motley Fool Australia has recommended Jumbo Interactive. 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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