On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark fell 0.6% to 7,213.8 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
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ASX 200 expected to fall again
The Australian share market is expected to have a tough session on Thursday after another poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 48 points or 0.65% lower this morning. In the United States, the Dow Jones fell 0.8%, the S&P 500 dropped 0.75% and the NASDAQ tumbled 0.6%. US debt ceiling concerns weighed on sentiment.
Webjet shares downgraded
The Webjet Limited (ASX: WEB) share price charged higher on Wednesday after the online travel agent's full-year results impressed the market. The team at Goldman Sachs believes its shares have now peaked and have downgraded them to neutral with a $7.90 price target. Goldman made the move on valuation grounds.
Oil prices rise
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices rose on Wednesday night. According to Bloomberg, the WTI crude oil price is up 1.3% to US$73.87 a barrel and the Brent crude oil price is up 1.5% to US$77.97 a barrel. Falling US stockpiles boosted prices.
ASX 200 shares go ex-dividend
A number of ASX 200 shares will be going ex-dividend this morning for their latest payouts and could trade lower. This includes gaming technology company Aristocrat Leisure Limited (ASX: ALL), agricultural chemicals company Nufarm Ltd (ASX: NUF), and commercial explosives company Orica Ltd (ASX: ORI).
Gold price drops
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a poor session after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.7% to US$1,961.4 an ounce. A stronger US dollar weighed on the precious metal.
