5 things to watch on the ASX 200 on Thursday

It looks set to be another tough day for the ASX 200 index…

Business woman watching stocks and trends while thinking

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 7,086.4 points.

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

ASX 200 expected to fall again

The Australian share market looks set to fall again on Thursday following another poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 39 points or 0.55% lower this morning. In late trade in the United States, the Dow Jones is down 0.6%, the S&P 500 has fallen 0.7% and the NASDAQ has tumbled 1%.

Oil prices drop

Energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a difficult day after oil prices dropped on Wednesday night. According to Bloomberg, the WTI crude oil price is down 1.15% to US$78.60 a barrel and the Brent crude oil price is down 1.7% to US$82.87 a barrel. Oil prices fell on Chinese demand concerns.

Lithium miners fall again

It could be another red day for lithium miners such as Mineral Resources Ltd (ASX: MIN) and Pilbara Minerals Ltd (ASX: PLS). On Wall Street, US-listed lithium miners SQM and Albemarle are trading lower in late trade. Concerns over electric vehicle demand and lithium prices appear to be behind this.

Star rated neutral

The Star Entertainment Group Ltd (ASX: SGR) share price could be fully valued according to analysts at Goldman Sachs. This morning, the broker has retained its neutral rating but slashed its price target by 34% to $1.90. Goldman said: "The NSW government's proposed casino tax reforms pose a significant earnings risk for SGR's Sydney casino."

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 softened overnight. According to CNBC, the spot gold price is down 0.5% to US$1,813.2 an ounce. A stronger US dollar put pressure on the precious metal.

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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

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 »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Catapult, Flight Centre, Nufarm, and Xero shares are storming higher today

These shares are having a strong session on Thursday. But why? Let's find out.

Read more »

A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares
Opinions

1 ASX growth stock down 30% I'd buy right now

This international business is growing core earnings at a strong rate.

Read more »

Concept image of a man in a suit with his chest on fire.
Record Highs

How long can the CBA share price keep this up?

Australia's biggest bank is running hot. Does it make any sense?

Read more »