On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a very strong session. The benchmark index rose 1% to 7,122.3 points.
Will the market be able to build on this on Friday? Here are five things to watch:
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ASX 200 expected to rise again
The Australian share market looks set to end the week on a very positive note following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 39 points or 0.55% higher this morning. In late trade in the United States, the Dow Jones is up 0.4%, the S&P 500 is up 6%, and the NASDAQ index is up 0.8%.
Oil prices push higher
Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good finish to the week after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.7% to US$74.18 a barrel and the Brent crude oil price is up 1% to US$79.09 a barrel. This was driven by lower US inventories and Iraqi supply risks.
Lithium M&A activity to continue?
Allkem Ltd (ASX: AKE) and Pilbara Minerals Ltd (ASX: PLS) shares will be on watch after Morgans suggested that they could also become takeover targets in the lithium industry. It said: "We see potential for both PLS and AKE to also be considered attractive targets. PLS offers exposure to high quality hard rock while AKE is much cheaper on a resource multiple."
Gold price higher
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a solid finish to the week after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.8% to US$1,999.7 an ounce. Traders were buying gold on US dollar weakness and optimism that inflation is easing.
Harvey Norman goes ex-dividend
The Harvey Norman Holdings Limited (ASX: HVN) share price could take a tumble on Friday when it trades ex-dividend for the retailer's interim dividend. Eligible shareholders can now look forward to receiving Harvey Norman's fully franked 13 cents per share dividend in a little over a month on 1 May.
