On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was sold off on global economic growth concerns. The benchmark sank 1.5% to 7,195.2 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 again
The Australian share market is expected to fall again on Thursday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.3% lower this morning. In the United States, the Dow Jones fell 0.5%, the S&P 500 dropped 0.75%, and the NASDAQ sank 1.15%. Rate hike concerns weighed on sentiment.
Oil prices sink
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a tough day after oil prices sank on Wednesday night. According to Bloomberg, the WTI crude oil price is down 2.2% to US$79.21 a barrel and the Brent crude oil price is down 1.9% to US$83.27 a barrel. Chinese economic growth concerns put pressure on prices.
Telstra results
Telstra Group Ltd (ASX: TLS) shares will be on watch today when the telco giant releases its full-year results. Management is guiding to underlying earnings before interest, tax, depreciation and amortisation (EBITDA) in the range of $7.8 billion to $8 billion. Goldman Sachs expects: "FY23 EBITDA +6% to $7.95bn (incl. $60mn NBN one-off) vs. guidance for $7.8-8.0bn, VA cons. $7.94bn; EPS +4% to 16.4¢ (VA 16.0¢); and final DPS flat at 8.5¢ (VA 8.5¢)."
Gold price falls
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch after the gold price dropped again overnight. According to CNBC, the spot gold price is down 0.65% to US$1,922.9 an ounce. The gold price fell on rate hike fears.
Core Lithium equity raising
The Core Lithium Ltd (ASX: CXO) share price looks likely to crash again on Thursday. That's because the lithium miner is raising $120 million at a massive discount of 40 cents per new share. The equity raising will support Core Lithium's near-term growth projects. This includes BP33 early works and the ongoing exploration program.
