On Thursday the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped lower. The benchmark index fell 0.55% to 7,485.7 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 rise
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 17 points or 0.2% higher. This follows a decent night of trade on Wall Street, which saw the Dow Jones rise 0.4%, the S&P 500 climb 0.3%, and the Nasdaq edge 0.15% higher.
Telstra named as buy
The Telstra Corporation Ltd (ASX: TLS) share price is in the buy zone according to analysts at Goldman Sachs. The broker has been looking through the telco sector and has retained its buy rating and $4.30 price target on its shares. Goldman notes that there have been recent NBN price rises from providers and expects this market rationality to continue in FY 2022.
Oil prices rise
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could end the week on a positive note after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.6% to US$69.70 a barrel and the Brent crude oil price is up 1.6% to US$72.75 a barrel. Optimism over the global economic recovery drove prices higher.
Gold price falls
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.2% to US$1,811.90 an ounce. Traders appear undecided on what recent economic data means for the gold price.
Shares going ex-dividend
A number of shares are going ex-dividend today and could trade lower. This includes fuel retailer Ampol Ltd (ASX: ALD), regional bank Bendigo and Adelaide Bank Ltd (ASX: BEN), and financial technology company Bravura Solutions Ltd (ASX: BVS).
