On Thursday, the S&P/ASX 200 Index (ASX: XJO) ended its losing streak with a decent gain. The benchmark index rose 0.5% to 6,925.5 points.
Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:
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ASX 200 expected to edge higher
The Australian share market looks set to end the week on a mildly positive note despite a subdued session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 6 points or 0.1% higher this morning. In late trade on the United States, the Dow Jones is flat, the S&P 500 is down 0.1%, and the NASDAQ is down 0.1%.
Oil prices fall
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices dropped again overnight. According to Bloomberg, the WTI crude oil price is down 2.1% to US$82.43 a barrel and the Brent crude oil price is down 1.85% to US$84.23 a barrel. Demand concerns are weighing on oil prices.
Sell Adbri shares
Adbri Ltd (ASX: ABC) shares are overvalued according to analysts at Goldman Sachs. This morning, the broker has downgraded the building materials company's shares to a sell rating with a $1.85 price target. It said: "We sit -4%/-6% behind Visible Alpha consensus EBIT in FY24/25 with a more gradual margin improvement (despite sitting 1%/-1% vs consensus revenues in FY24/25)."
Gold price edges lower
ASX 200 gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) could have a soft finish to the week after the gold price edged lower overnight. According to CNBC, the spot gold price is down slightly to US$1,834.1 an ounce. Higher for longer interest expectations mean gold is on course for its ninth consecutive decline.
Dividends being paid
A number of ASX 200 shares will be rewarding their shareholders with their latest dividend payments today. This includes waste management company Cleanaway Waste Management Ltd (ASX: CWY), gold miner Evolution Mining Ltd (ASX: EVN), telco Spark New Zealand Ltd (ASX: SPK), and software company WiseTech Global Ltd (ASX: WTC).
