5 things to watch on the ASX 200 on Friday

Will the market rebound from yesterday's selloff on Friday?

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

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) was well and truly out of form and sank deep into the red. The benchmark index crashed 1.6% to 7,195.5 points.

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

ASX 200 expected to edge lower

The Australian share market looks set to end the week in a subdued fashion despite a reasonably solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 7 points or 0.1% lower this morning. In the United States, the Dow Jones was largely flat, the S&P 500 rose 0.4%, and the NASDAQ rebounded 1%.

Cochlear acquisition approved in the UK

Cochlear Limited (ASX: COH) shares will be on watch today after the hearing solutions company revealed that UK regulators have approved its acquisition of Oticon Medical. Though, the regulator has blocked the acquisition of the bone conduction implants side of the business for competition reasons.

Oil prices sink

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a tough finish to the week after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 4.3% to US$69.43 a barrel and the Brent crude oil price is down 3.9% to US$74.10 a barrel. Concerns over potential interest rate hikes weighed on oil prices.

Gold price falls

ASX 200 gold shares Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after the gold price dropped overnight. According to CNBC, the spot gold price is down 1.1% to US$1,923.8 an ounce. The prospect of higher interest rates was to blame.

NextDC named as a buy

NextDC Ltd (ASX: NXT) shares could be in the buy zone according to Goldman Sachs. The broker has just been to an investor day event held by global data centre giant Equinix (NASDAQ: EQIX). It said: "Overall we believe commentary at the Equinix day supports our positive thesis around the benefits of AI in driving demand (hyperscale & co-location) within the Australian data centre market." Goldman has a buy rating and $14.96 price target on NextDC's shares.

Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear, Equinix, and Goldman Sachs Group. The Motley Fool Australia has recommended Cochlear. 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

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured a rough day of trading this Tuesday.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Market News

ASX 200 takes the latest RBA interest rate verdict in stride

The ASX 200 looks to have shaken off today’s RBA interest rate call.

Read more »

A mature-aged couple high-five each other as they celebrate a financial win and early retirement
Share Gainers

Why this ASX 300 stock is soaring 12% after a disastrous year

This company has had a dramatic reversal of fortunes this Tuesday...

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Core Lithium, Imugene, Lifestyle Communities, and Mineral Resources shares are charging higher

These shares are having a good session. What's going on?

Read more »

A miner stands in front oh an excavator at a mine site
Broker Notes

Broker says buy the dip on ASX 200 uranium share with 69% upside

Shaw and Partners says this ASX uranium stock is trading at an attractive price point right now.

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

Why Domino's, Lynas, Paladin Energy, and St Barbara shares are sinking today

These shares are having a tough session. What's going on?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

4 ASX All Ords shares up 315% to 682% in a year!

Investors have sent these ASX All Ords shares flying higher. But why?

Read more »

Woman on a swing at a beach, symbolising passive income.
Dividend Investing

Overinvested in Fortescue shares? Here are two alternative ASX dividend stocks

Let’s unearth some other passive income opportunities.

Read more »