On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.3% to 7,592.8 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
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ASX 200 expected to sink
The Australian share market looks set to end its winning streak following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 63 points or 0.8% lower this morning. In the US, the Dow Jones dropped 1%, the S&P 500 was down 1.5%, and the Nasdaq sank 2.1% after the US Federal Reserve hinted at a big rate hike next month.
Oil prices rise
Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a decent finish to the week after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 1.2% to US$103.39 a barrel and the Brent crude oil price is up 1.1% to US$107.97 a barrel.
Endeavour remains a buy
The Endeavour Group Ltd (ASX: EDV) share price remains great value according to Goldman Sachs. In response to the alcohol retailer's quarterly update, the broker reiterated its conviction buy rating and lifting its price target to $8.30. Goldman said: "We continue to believe that EDV is unrivaled in its capability to deliver a seamless omni-channel experience to consumers and can manage well through short-term cost volatilities with a less price-sensitive portfolio and high consumer loyalty."
Gold price falls
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price edged lower. According to CNBC, the spot gold price is down slightly to US$1,954.7 an ounce. Traders were selling gold after treasury yields jumped.
Bega Cheese downgraded
The Bega Cheese Ltd (ASX: BGA) share price could have a difficult finish to the week. This morning Goldman Sachs downgraded the food company's shares to a sell rating with a $5.15 price target. The broker explained: "While our call is largely around the full valuation, we are concerned about the headwinds facing the Australian Dairy Industry and the potential impact on future earnings."
