On Wednesday the S&P/ASX 200 index was on form again and stormed higher. The benchmark index climbed 0.5% to 7,088.2 points.
Will the local share market be able to build on this on Thursday? Here are five things to watch:
ASX 200 expected to jump.
The S&P/ASX 200 index is expected to jump higher on Thursday after a very positive night of trade in the United States. According to the latest SPI futures, the ASX 200 is poised to 34 points or 0.5% higher at the open. In late trade on Wall Street the Dow Jones is up 0.85%, the S&P 500 index is 0.6% higher, and the Nasdaq index is up 0.8%.
Telstra result.
The Telstra Corporation Ltd (ASX: TLS) share price could be on the move this morning when it releases its half year results. The market is looking for Telstra to deliver EBITDA or $4.36 billion and net profit after tax of $1.2 billion. An 8 cents per share fully franked interim dividend is expected to be declared by the telco giant.
Oil higher, gold lower.
Woodside Petroleum Limited (ASX: WPL) and other leading energy producers could charge higher today after oil prices rebounded strongly on production cut hopes. According to Bloomberg, the WTI crude oil price is up 2.8% to US$51.34 a barrel and the Brent crude oil price is up 3.5% to US$55.92 a barrel. Whereas Newcrest Mining Limited (ASX: NCM) and other leading gold miners could come under a bit of pressure after the gold price edged lower. According to CNBC, the spot gold price has fallen 0.1% to US$1,568.90 an ounce.
Treasury Wine result.
The Treasury Wine Estates Ltd (ASX: TWE) share price will be one to watch after the release of its half year results late on Wednesday. The wine giant reported net sales revenue of $1,536.1 million and EBITS of $366.7 million. This was a 2% and 6% increase, respectively, on the prior corresponding period. Management reaffirmed its updated guidance but warned that the coronavirus could impact its performance.
NAB quarterly.
Hot on the heels of the strong half year update from Commonwealth Bank of Australia (ASX: CBA), fellow bank National Australia Bank Ltd (ASX: NAB) will be releasing its quarterly update this morning. Investors will be no doubt hoping that CommBank's result was not a one off and that NAB has also been performing strongly.
