On Thursday the S&P/ASX 200 index returned to form and stormed 0.5% higher to 6,717.5 points.
Will the local share market be able to build on this on Friday and finish the week on a high? Here are five things to watch:
ASX 200 expected to rise.
The Australian share market looks set to have a positive end to the week despite a mixed night of trade on Wall Street. According to the latest SPI futures, the ASX 200 index is expected to open the day 12 points or 0.2% higher this morning. In the United States the Dow Jones dropped 0.2%, the S&P 500 traded flat, and the Nasdaq rose 0.1%.
Oil prices tumble.
Energy shares such as Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could push higher today amid concerns over Saudi Arabia's supply. According to Bloomberg, this led to the WTI crude oil price rising 0.5% to US$58.42 a barrel and the Brent crude oil price climbing 1.6% to US$64.62 a barrel.
Premier Investments results.
The Premier Investments Limited (ASX: PMV) share price will be on watch today when the retail conglomerate releases its full year results. According to a note out of Goldman Sachs, its analysts are expecting total sales of $1,257.4 million and net profit after tax of $127.9 million. This will be a 6.4% and 17.8% increase, respectively, on FY 2018's result.
Gold price lower.
Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could trade lower today after the spot gold price dropped lower. According to CNBC, the spot gold price dropped 0.6% to US$1,506.2 an ounce.
Treasury Wine rated as a sell.
The Treasury Wine Estates Ltd (ASX: TWE) share price will be on watch on Friday after analysts at Goldman Sachs reiterated their sell rating and $14.40 price target. According to the note, the broker has been looking at industry data and believes that it has been increasingly negative for the Australian wine giant. It notes that price deflation has continued in the Chinese ecommerce channel.
