On Wednesday, the S&P/ASX 200 Index (ASX: XJO) ran out of steam and dropped into the red. The benchmark fell 0.35% to 7,253.2 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
The Australian share market is expected to have another poor session on Thursday after a disappointing night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 35 points or 0.5% lower this morning. In the United States, the Dow Jones fell 0.4%, the S&P 500 dropped 0.2% and the NASDAQ tumbled 0.2%.
Nufarm rated as a buy
Bell Potter says that Nufarm Ltd (ASX: NUF) shares are great value at the current level. This morning, the broker retained its buy rating with a trimmed price target of $7.20. This implies almost 40% upside from current levels. It commented: "We can see a pathway to NUF reaching its FY26e revenue targets through the omega3 and carinata opportunities and continued over indexing in ag-chem"
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 3% to US$71.92 a barrel and the Brent crude oil price is up 0.5% to US$76.65 a barrel. Strong holiday demand in the US boosted prices.
Mining giants fall
It looks like it could be a poor session for mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) on Thursday despite a modest 0.7% rise in the benchmark iron ore price to US$109.55 a tonne. That's because, on Wall Street, their US-listed shares dropped almost 2.5% and 1.5%, respectively.
Gold price 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 dropped overnight. According to CNBC, the spot gold price is down 0.3% to US$1,923.8 an ounce. This follows a rise in the US dollar and bond yields after the US Fed meeting minutes were released.
