5 things to watch on the ASX 200 on Thursday

Here's what to expect on the ASX 200 on Thursday.

Smiling man with phone in wheelchair watching stocks and trends on computer

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) fought hard but fell just short of positive territory. The benchmark index edged 0.1% lower to 7,316.3 points.

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

ASX 200 expected to fall

The Australian share market is expected to have a poor session on Thursday after a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 0.7% lower this morning. In the United States, the Dow Jones fell 0.7% and the S&P 500 fell 0.4%, but the NASDAQ rose 0.4%.

Pilbara Minerals update

Pilbara Minerals Ltd (ASX: PLS) shares will be on watch today when the lithium giant releases its third-quarter update. The consensus estimate is for spodumene production of 148kt for the three months. This will be down from 162kt during the second quarter. In addition, the market is expecting an average realised spodumene price of US$5,209 per tonne.

Oil prices sink

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could come under pressure after oil prices fell on Wednesday night. According to Bloomberg, the WTI crude oil price is down 3.6% to US$74.32 a barrel and the Brent crude oil price is down 3.8% to US$77.62 a barrel. US recession concerns weighed on prices.

CBA shares rated as a hold

The Commonwealth Bank of Australia (ASX: CBA) share price may be fully valued at current levels. That's the view of analysts at Morgans, which have reiterated their hold rating with an improved price target of $97.87. This is broadly in-line with where Australia largest bank's shares are currently trading.

Gold price edges lower

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued session after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.35% to US$1,997.6 an ounce.

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 happy girl in a yellow playsuit with a zip gives the thumbs up
BNPL shares

Is this why the Zip share price keeps breaking records?

Zip shareholders have been enjoying a record breaking year. Is this why?

Read more »

A woman with strawberry blonde hair has a huge smile on her face and fist pumps the air having seen good news on her phone.
Broker Notes

Bell Potter names the best ASX 200 stocks to buy in November

These quality stocks are top picks in November according to the broker.

Read more »

A female stockbroker reviews share price performance in her office with the city shown in the background through her windows
Share Market News

5 things to watch on the ASX 200 on Friday

Another good session is expected for Aussie investors today. Here's what is happening.

Read more »

A middle-aged man working from home looks at his mobile phone with a laptop open on the table in front of him.
Share Market News

Here's why more Australians intend to work during retirement

A new survey reveals insights into the retirement intentions of older Australian workers.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Share Market News

Are we soon to see a skyrocketing Aussie stock market?

Will the Aussie stock market follow the lead of American stock markets following the US election?

Read more »

A man and a woman sit in front of a laptop looking fascinated and captivated.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a volatile, but positive, day for ASX shares this Thursday.

Read more »

A cloud with a blue arrow pointing upwards through its middle symbolising a rising asx share price
Record Highs

Xero and 2 other ASX tech shares cracking all-time highs on Thursday

The price peaks follow a significant lift in the NASDAQ overnight following Republican Donald Trump's US election victory.

Read more »

A US flag behind a graph, indicating investment in US shares
Share Market News

What the US election outcome means for ASX shares

ASX shares are having a mixed reaction to the US election results today.

Read more »