On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a strong day and charged notably higher. The benchmark index rose 0.95% to 7,354.4 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 fall
The Australian share market looks set to end the week with a decline following a relatively poor session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 18 points or 0.25% lower this morning. In late trade in the United States, the Dow Jones is down 0.55%, the S&P 500 has fallen 0.05%, and the Nasdaq is up 0.2%.
Oil prices mixed
Energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued finish to the week following a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.6% to US$81.03 a barrel and the Brent crude oil price is down 0.25% to US$86.75 a barrel. WTI crude oil rose after China eased some of its COVID curbs.
Woodside rated neutral
The Woodside share price may be fully valued now according to analysts at Morgans. This morning, the broker has retained its hold rating and cut its price target to $34.50. In response to its investor update on Thursday, Morgans commented: "One thing is for sure, WDS expects less production in 2023 than it or the market had anticipated."
Gold price surges
Gold miners including Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a great finish to the week after the gold price surged overnight. According to CNBC, the spot gold price is up 3.2% to US$1,816.3 an ounce. Traders were buying gold after the US dollar weakened amid reduced rate hike expectations.
Premier Investment annual general meeting
Premier Investments Limited (ASX: PMV) shares will be on watch on Friday. That's because the retail conglomerate is holding its annual general meeting and could provide the market with a trading update on its Peter Alexander and Smiggle businesses at the event.
