On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and edged lower. The benchmark index was down a fraction to 8,847.3 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to rise
It looks set to be a good session for Australian investors following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 40 points or 0.45% higher this morning. In the United States, the Dow Jones rose 0.2%, the S&P 500 climbed 0.3%, and the Nasdaq jumped 0.3%.
Wesfarmers update
Wesfarmers Ltd (ASX: WES) shares will be on watch on Thursday when the conglomerate releases a trading update ahead of its annual general meeting. Investors will be looking for signs that Bunnings and Kmart are continuing to perform well in FY 2027. Also holding events today and likely to release updates are Challenger Ltd (ASX: CGF), JB Hi-Fi Ltd (ASX: JBH), Perpetual Ltd (ASX: PPT), and Super Retail Group Ltd (ASX: SUL).
Oil prices rise
ASX 200 energy shares including Woodside Energy Group Ltd (ASX: WDS)and Santos Ltd (ASX: STO) will be on watch today following a positive night for oil prices. According to Bloomberg, the WTI crude oil price is up 1.8% to US$101.69 a barrel and the Brent crude oil price is up 0.15% to US$114.03 a barrel. Traders were buying oil in response to reports that the US is planning strikes on Iran.
Buy Life360 shares
Life360 Inc. (ASX: 360) shares could be good value according to the team at Ord Minnett. The broker has resumed coverage on the location technology company's shares with a buy rating and $29.40 price target. Based on its current share price of $20.65, this implies potential upside of 42% for investors over the next 12 months. The broker is bullish on Life360's outlook, partly due to the potential growth of its advertising business.
Gold price rises
It could be a reasonably positive session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.2% to US$4,083.5 an ounce. This follows the US Federal Reserve's decision to keep interest rates on hold.
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 positions in Life360 and Woodside Energy Group Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Super Retail Group, and Wesfarmers. The Motley Fool Australia has positions in and has recommended Life360 and Super Retail 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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