5 things to watch on the ASX 200 on Friday

The ASX 200 is expected to end the week on a positive note.

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a poor session and dropped into the red. The benchmark index fell 0.6% to 7,029.2 points.

Will the market be able to bounce back on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open 13 points or 0.2% higher this morning. Wall Street was closed for Thanksgiving, but European markets were higher. The DAX and the FTSE both rose 0.2%.

Oil prices fall

ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could end the week poorly after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.95% to US$76.37 a barrel and the Brent crude oil price is down 0.8% to US$81.29 a barrel. Traders were selling oil after OPEC delayed its meeting.

AustralianSuper rejects Origin offer

Origin Energy Ltd (ASX: ORG) shares will be worth watching today after AustralianSuper rejected the revised takeover offer from Brookfied/EIG. The super fund said: "This latest low-ball offer strengthens AustralianSuper's view that the offer remains substantially below our estimate of Origin's long-term value."

Gold price edges higher

ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price edged higher overnight. According to CNBC, the spot gold price is up slightly to US$1,993.3 an ounce. A weaker US dollar boosted the precious metal.

Sell CBA shares

Commonwealth Bank of Australia (ASX: CBA) shares are overvalued according to analysts at Goldman Sachs. This morning, the broker has reiterated its sell rating on the banking giant's shares with an $81.64 price target. Goldman said: "CBA's consumer banking skew leaves its earnings more exposed to sector wide headwinds, including intense mortgage and deposit competition."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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