On Thursday the S&P/ASX 200 Index (ASX: XJO) continued its poor run and tumbled lower. The benchmark index fell 0.5% to end the day at 7,464.6 points.
Will the market be able to bounce back from this on Friday? Here are five things to watch:
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ASX 200 expected to rebound
The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 39 points or 0.5% higher. This follows a mixed night on Wall Street, which saw the Dow Jones fall 0.2%, the S&P 500 climb 0.1%, and the Nasdaq rise 0.1%.
Cochlear full year results
The Cochlear Limited (ASX: COH) share price will be one to watch today when it hands in its full year results. According to CommSec, the market is expecting the hearing solutions company to report a full year net profit after tax of $245.5 million. A dividend of $1.28 per share is also expected to be declared.
Oil prices fall
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could end the week in the red after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 2.1% to US$64.08 a barrel and the Brent crude oil price is down 1.9% to US$66.91 a barrel. This was the sixth day of declines in a row amid fears of slowing global economic growth.
Sydney Airport results
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price could be on the move today when it releases its half year results. Due to the negative impact of COVID-19, the airport operator is expected to post a sizeable loss. According to CommSec, the analyst consensus estimate is a loss of $225 million for the half.
Gold price edges lower
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after the gold price edged lower. According to CNBC, the spot gold price is down 0.1% to US$1,783.10 an ounce. The price of the precious metal slipped after the US dollar strengthened.
