On Thursday the S&P/ASX 200 index continued its strong run and pushed 0.5% higher to 6,718 points.
Will the market be able to build on this on Friday? Here are five things to watch:
ASX expected to edge lower.
The Australian share market looks set to finish the week on a subdued note. According to the latest SPI futures, the ASX 200 is poised to open the day 2 points lower. Wall Street was closed for the Independence Day holiday and European markets were mixed.
Oil prices lower.
Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) shares could be on the move on Friday after oil prices pulled back. According to Bloomberg, the WTI crude oil price fell 0.9% to US$56.80 a barrel and the Brent crude oil price dropped 0.8% to US$63.30 a barrel. Prices weakened amid signs that U.S. demand is slowing.
Coca Cola Amatil rated a sell.
The Coca-Cola Amatil Ltd (ASX: CCL) share price could come under pressure this morning after analysts at Goldman Sachs downgraded the beverage company's shares to a sell rating with an $8.50 price target. Goldman appears concerned over the growth prospects of its Australian segment over the near term.
Gold price lower.
Australian gold miners Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch today after the gold price dropped lower. According to CNBC, the spot gold price dropped 0.2% to US$1,418 an ounce ahead of the release of key U.S. jobs data tonight.
Whitehaven named as a sell.
The Whitehaven Coal Ltd (ASX: WHC) share price could finish the week in the red after analysts at Goldman Sachs downgraded the coal miner's shares to a sell rating due to the weak outlook for thermal coal. Goldman has a $3.20 price target on the company's shares.
