On Wednesday the S&P/ASX 200 Index (ASX: XJO) fought back from a sizeable morning decline to end the day flat at 5,221.2 points.
Will things be better on Thursday? Here are five things to watch:
ASX 200 poised to storm higher.
The S&P/ASX 200 index looks set to return to form on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 53 points or 1% higher this morning. This follows a positive night on Wall Street which saw the Dow Jones rise 2%, the S&P 500 climb 2.3%, and the Nasdaq index jump 2.8%. Rebounding oil prices and strong earnings helped lift U.S. markets.
Oil prices rebound.
It could be a better day of trade for energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices rebounded strongly. According to Bloomberg, the WTI crude oil price is up 23.5% to US$14.29 a barrel and the Brent crude oil price has risen 8.3% to US$20.94 a barrel.
Gold price surges higher.
Gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could be on the rise today after the gold price surged higher. According to CNBC, the spot gold price is up 3% to US$1,737.90 an ounce. Investors have been buying gold on the belief that further stimulus will be announced in the United States.
Ramsay Health Care to return.
The Ramsay Health Care Limited (ASX: RHC) share price could return from its trading halt this morning. It requested the halt on Wednesday in order to undertake a $1.4 billion equity raising. This comprises a $1.2 billion underwritten institutional placement and up to $200 million from a non-underwritten share purchase plan. Ramsay is raising the funds at $56.00 per new share, which represents a 12.9% discount from its last close price of $64.29.
Lynas awarded U.S. contract.
The Lynas Corporation Ltd (ASX: LYC) share price will be on watch today after a late announcement on Wednesday. The rare earths producer revealed that it has been advised by the U.S. Department of Defense of its intention to award a Phase I contract for a U.S. based Heavy Rare Earth separation facility to Lynas. This follows the company's tender submission in December 2019.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
