On Thursday, the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark index rose 0.3% to 7,110.8 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 race higher
The Australian share market looks set to end the week in a positive fashion following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 46 points or 0.65% higher this morning. In the United States, the Dow Jones was up 0.5%, the S&P 500 rose 1%, and the NASDAQ jumped 1.3%.
South32 shares rated as a buy
South32 Ltd (ASX: S32) shares could be a top option in the mining sector. That's the view of analysts at Goldman Sachs, which have reiterated their buy rating and $4.80 price target on the mining giant's shares. This follows a site visit to the Hermosa underground project in Arizona. Following the visit, Goldman continues to believe its shares trade on an "attractive valuation."
Oil prices rebound
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good finish to the week after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 2.9% to US$70.06 a barrel and the Brent crude oil price is up 2.25% to US$74.23 a barrel. US debt talks progress boosted prices.
Gold price rises
It could be a good finish to the week for gold shares Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) after the gold price rose again overnight. According to CNBC, the spot gold price is up 0.65% to US$1,995.3 an ounce. Soft US economic data has reduced rate hike bets.
NextDC rated as a buy
The NextDC Ltd (ASX: NXT) share price is great value according to analysts at Goldman Sachs. This morning, the broker has reiterated its buy rating with an improved price target of $14.96. Its analysts believe the data centre operator could benefit greatly from the artificial intelligence boom.
