On Thursday the S&P/ASX 200 index continued to rebound and pushed notably higher once again. The benchmark index rose a sizeable 1.05% to 7,049.2 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 push higher again.
The S&P/ASX 200 index looks set to continue its positive run on Friday after Wall Street pushed higher for a fourth session in a row. According to the latest SPI futures, the ASX 200 is poised to rise 10 points or 0.15% at the open. In late trade on Wall Street the Dow Jones is up 0.35%, the S&P 500 is up 0.3%, and the Nasdaq is trading 0.55% higher.
REA Group first half result.
The REA Group Limited (ASX: REA) share price will be on watch this morning when it releases its half year results. According to a note out of Goldman Sachs, its analysts expect the property listings company to post a 3% decline in revenue to $454 million, a 4% decline in EBITDA to $279 million, and an 8% reduction in NPAT to $162 million. The broker will also be looking for updates on its Agent Edge product, cost reductions, and its performance in Commercial and Developer.
Oil prices mixed.
Energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be on watch today after a mixed night of trade for oil prices. According to Bloomberg, the WTI crude oil price has climbed 0.6% higher to US$51.07 a barrel and the Brent crude oil price is down 0.4% to US$55.07 a barrel.
News Corp half year update.
Media giant News Corp (ASX: NWS) is also due to report its half year results this morning. Goldman expects revenue to fall 5% to US$4.9bn, EBITDA to drop 22% to US$573 million, and NPAT to fall 42% to US$115 million. Its analysts will also be looking for an update on the NAM strategic review, news around the Foxtel debt refinancing, and an improvement from its Book Publishing earnings.
Gold price higher.
Gold miners such as Evolution Mining Ltd (ASX: EVN) and St Barbara Ltd (ASX: SBM) could finish the week on a high after the price of the precious metal pushed higher. According to CNBC, the spot gold price has climbed 0.5% to US$1,570.60 an ounce. Potential rate cuts and concerns over the coronavirus have boosted the gold price.
