5 things to watch on the ASX 200 on Friday

Here's what to watch on the ASX 200 today…

Smiling man with phone in wheelchair watching stocks and trends on computer

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 Thursday, the S&P/ASX 200 Index (ASX: XJO) fought hard but ultimately fell short of recording another gain. The benchmark index dropped 0.3% to 7,384.5 points.

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

ASX 200 expected to fall

The Australian share market looks set to end the week in a subdued fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% lower this morning. This follows a poor night of trade on Wall Street, which late on sees the Dow Jones up 0.2%, but the S&P 500 down 0.2% and the Nasdaq down 1%.

ANZ rated as a buy

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price remains in the buy zone according to the team at Bell Potter. In response to its $25 million civil penalty, the broker has retained its buy rating and $30.00 price target on the banking giant's shares. While another penalty is disappointing, it notes that the bank is well-provisioned for it. Outside this, Bell Potter likes ANZ due to its huge opportunity from funding the decarbonisation transition.

Oil prices fall

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could end the week in the red after oil prices dropped. According to Bloomberg, the WTI crude oil price is down 1.6% to US$71.18 a barrel and the Brent crude oil price is down 1.6% to US$74.60 a barrel. Oil prices fell due to concerns about Omicron restrictions in Europe and China.

Annual general meetings

Fund manager Pendal Group Ltd (ASX: PDL) and investment house Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) will be on watch today when they hold their respective annual general meetings. Both companies could provide their shareholders with an update on their performances at their events.

Gold price falls

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a poor finish to the week after the gold price dropped. According to CNBC, the spot gold price is down 0.5% to US$1,775.10 an ounce. The gold price fell following some strong economic data out of the US.

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 and has recommended Washington H. Soul Pattinson and Company 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

asx share price boosted by us investment represented by hand waving US flag across winning athlete
Best Shares

Here are the best-performing ASX 200 shares since the US election result

We reveal the 10 ASX stocks that have had the highest share price gains since the US Presidential election.

Read more »

A young man sits at his desk working on his laptop with a big smile on his face due to his ASX shares going up and in particular the Computershare share price
Share Market News

5 things to watch on the ASX 200 on Friday

A decent finish to the week is expected for Aussie investors.

Read more »

A smiling man at a shop counter takes payment from a female customer, with racks of plants in the background.
Best Shares

Here's why I think Wesfarmers shares are a great buy for any ASX investor

I argue that Wesfarmers offers investors both growth and income potential.

Read more »

A golfer celebrates a good shot at the tee, indicating success.
Share Market News

Here are the top 10 ASX 200 shares today

ASX investors finally enjoyed a win this Thursday...

Read more »

a man sits back from his laptop computer with both hands behind his head feeling happy to see the Brambles share price moving significantly higher today
Industrials Shares

Up 39% in a year, is there more growth to come for this ASX 200 share?

IML Equity Analyst Josh Freiman shares his views on a major ASX 200 industrial stock.

Read more »

Man looking at his grocery receipt, symbolising inflation.
Share Market News

What the latest US inflation print means for ASX 200 investors

The ASX 200 is likely to benefit if the US Fed cuts interest rates again in December. But will it?

Read more »

guy helping girl invest in shares and dividends
Opinions

5 ways for investors buying ASX shares to stay focused during economic uncertainty

AMP Chief Economist, Dr Shane Oliver, offers advice on how to handle the Trump factor.

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why Graincorp, Light & Wonder, Orica, and Wildcat shares are falling today

These shares are having a tough time on Thursday. But why?

Read more »