On Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) gave back its morning gains to finish the day 4 points lower at 6,059.4 points.
Will the local market be able to bounce back on Friday? Here are five things to watch:
ASX futures pointing higher.
According to the latest SPI futures, the ASX 200 is expected to open the day marginally higher. Current futures contracts are pointing to a gain of 3 points or 0.05% at the open. This follows a mixed night of trade on Wall Street. Late in the session the Dow Jones is down 0.1%, the S&P 500 is flat, and the Nasdaq has climbed 0.3%.
All eyes on Telstra.
The Telstra Corporation Ltd (ASX: TLS) share price will be on watch on Friday following yesterday's half year results release. I expect a large number of broker notes to hit the wires this morning. One that has just dropped is from Goldman Sachs. It was pleased with the result and has retained its conviction buy rating and lifted its price target slightly to $3.70.
Medibank results due.
The Medibank Private Ltd (ASX: MPL) share price could be on the move today when the private health insurer releases its half year results. Morgans has suggested that there is upside risk to earnings from lower than expected hospital claims.
Oil prices rise again.
Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) shares could push higher again after oil prices continued their rise. According to Bloomberg, the WTI crude oil price is up 1.15% to US$54.52 a barrel and the Brent crude oil prices has climbed 1.5% to US$64.55 a barrel. News that President Trump is considering a 60-day extension to the China tariff deadline appears to have boosted prices.
Other results to be released.
There are a number of results being released on Friday. Others of note included struggling property listings company Domain Holdings Australia Ltd (ASX: DHG), administration services company Link Administration Holdings Ltd (ASX: LNK), and coal mining giant Whitehaven Coal Ltd (ASX: WHC).
