5 things to watch on the ASX 200 on Thursday

Here's what to expect on the ASX 200 on Thursday…

A male ASX 200 broker wearing a blue shirt and black tie holds one hand to his chin with the other arm crossed across his body as he watches stock prices on a digital screen while deep in thought

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Wednesday the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.3% to 7,417 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to rebound

The Australian share market looks set to rebound on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.45% higher this morning. This follows a strong night of trade on Wall Street, which saw the Dow Jones rise 0.7%, the S&P 500 climb 0.85%, and the Nasdaq jump 0.8%.

Telstra Strategy Day

The Telstra Corporation Ltd (ASX: TLS) share price will be on watch today when it holds its highly anticipated Strategy for the Future Investor Day event. A note out of Goldman Sachs reveals that it expects this to be "a continuation of the current strategy (simplicity and customer focus, network leadership and improved efficiency) but with a tilt towards growth (such as Energy, Health, FWA, Enterprise 5G)."

Oil prices surge higher

It could be a very good day for energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) after oil prices surged higher. According to Bloomberg, the WTI crude oil price is up 3.1% to US$72.63 a barrel and the Brent crude oil price has risen 2.5% to US$75.46 a barrel. Oil prices climbed after US data revealed a greater than expected drawdown of supplies.

Gold price softens

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued day after the gold price dropped. According to CNBC, the spot gold price is down 0.7% to US$1,794.70 an ounce. US Federal Reserve tapering uncertainty is weighing on the safe haven asset.

Shares going ex-dividend

A number of shares are going ex-dividend on Thursday and could trade lower. This includes investment company Seven Group Holdings Ltd (ASX: SVW), casino operator SKYCITY Entertainment Group Limited (ASX: SKC), and New Zealand telco Spark New Zealand Ltd (ASX: SPK).

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Broker Notes

Buy this ASX All Ords stock for huge returns and a great dividend yield

Bell Potter thinks this buy-rated stock could deliver the goods for investors over the next 12 months.

Read more »

A man looking at his laptop and thinking.
Share Market News

5 things to watch on the ASX 200 on Tuesday

It looks set to be a tough session for local investors today. But why?

Read more »

Man standing on rock next to turquoise salt lagoon.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors enjoyed a great start to the trading week today.

Read more »

a business person checks his mobile phone outside a Wall Street office with an American flag and other business people in the background.
Share Market News

ASX 200 stocks I'm buying and selling BEFORE the US presidential election outcome

The ASX 200 could see some big moves on Wednesday in the wake of a huge US election.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Amcor, Boss Energy, Brickworks, and Mineral Resources shares are tumbling today

These shares are starting the week in the red. But why?

Read more »

Smiling couple looking at a phone at a bargain opportunity.
Share Gainers

Why Austal, Breville, Telix, and Westgold shares are pushing higher today

These shares are starting the week positively. But why?

Read more »

Multiple percentage signs in the palm of a man's hand.
Share Market News

What's going to happen with interest rates tomorrow? Here is CBA's take

CBA expects some 'shifts in language' from the Reserve Bank on interest rates tomorrow. Here's why.

Read more »

Broker written in white with a man drawing a yellow underline.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these stocks.

Read more »