5 things to watch on the ASX 200 on Friday

It could be a difficult finish to the week for the ASX 200 index.

A businesswoman on the phone is shocked as she looks at her watch, she's running out of time.

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) tumbled deep into the red. The benchmark index fell 0.7% to 6,968.6 points.

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

ASX 200 expected to fall again

The Australian share market looks set to end the week on a subdued note following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 38 points or 0.55% lower this morning. In late trade in the United States, the Dow Jones is down 0.1%, the S&P 500 is flat, and the NASDAQ index is up 0.7%.

Oil prices tumble

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a tough finish to the week after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 1.5% to US$69.53 a barrel and the Brent crude oil price is down 1.45% to US$75.59 a barrel. Traders appear concerned that rising rates could hurt the global economy and weigh on demand.

Block hit by short seller attack

The Block Inc (ASX: SQ2) share price is likely to crash lower today after the payments company was hit by a short seller attack. Hindenburg Research, which recently went after the Adani Group, claims that the company's flagship Cash App product facilitates crime and lacks strong compliance controls.

Gold price charges higher

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a great finish to the week after the gold price charged higher overnight. According to CNBC, the spot gold price is up 2.5% to US$1,998.4 an ounce. Traders were buying gold on the belief that the US Federal Reserve may pause its rate hikes.

Dividend payday

A number of ASX 200 shares will be paying their latest dividends on Friday. This includes energy companies AGL Energy Limited (ASX: AGL) and Origin Energy Ltd (ASX: ORG), lithium miner Pilbara Minerals Ltd (ASX: PLS), and health imaging technology company Pro Medicus Limited (ASX: PME),

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 positions in and has recommended Block and Pro Medicus. The Motley Fool Australia has positions in and has recommended Block and Pro Medicus. 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

Contented looking man leans back in his chair at his desk and smiles.
Share Market News

5 things to watch on the ASX 200 on Thursday

Here's what to expect on the local market today.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Broker Notes

These ASX 200 shares can rise 20% to 50%

Let's see which shares are being tipped to rocket from current levels.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors panicked when the latest inflation figures came out today.

Read more »

A man holds his head in his hands, despairing at the bad result he's reading on his computer.
Broker Notes

Why Guzman Y Gomez shares are a sell

Goldman Sachs has given its verdict on the burrito seller.

Read more »

A man pulls a shocked expression with mouth wide open as he holds up his laptop.
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Mac Copper, Pro Medicus, Web Travel, and Yancoal shares are pushing higher today

These shares are having a good time on hump day. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why ALS, Fisher & Paykel Healthcare, IPD, and Predictive Discovery shares are falling today

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

Read more »

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

How are ASX 200 investors responding to the latest Aussie inflation numbers?

The ASX 200 was up 0.2% today before the ABS reported the latest inflation figures.

Read more »