On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and recorded a small decline. The benchmark index fell 0.25% to 7,682 points.
Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:
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ASX 200 expected to rebound
The Australian share market looks set to end the week on a positive note following a strong session in the United States. According to the latest SPI futures, the ASX 200 is expected to open 77 points or 1% higher this morning. On Wall Street, the Dow Jones was up 1.8%, the S&P 500 rose 2.3%, and the Nasdaq jumped 2.9%.
Oil prices rise
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a good finish to the week after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 1.1% to US$76.04 a barrel and the Brent crude oil price is up 0.9% to US$79.04 a barrel. Positive economic data out of the US boosted prices.
REA Group results
REA Group Ltd (ASX: REA) shares will be on watch today when the property listings company releases its FY 2024 results. According to a note out of Bell Potter, it is expecting a solid result from the realestate.com.au operator. It said: "We expect 2% increase in revenue to $1,468m (Bberg consensus: $1,443m), and a 4% increase in EBITDA to $809m (consensus: $813m) incorporating 18.5% opex growth and the midpoint of guidance for share of associate losses. Our revised estimates for FY24 EPS (BPe: 352cps) and DPS (BPe: 193cps) are in-line with consensus following upgrades of 8%/4%."
Gold price charges higher
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a great finish to the week after the gold price charged higher overnight. According to CNBC, the spot gold price is up 1.25% to US$2,463.1 an ounce. Safe haven demand and rate cut optimism boosted the precious metal.
Buy ANZ shares
ANZ Group Holdings Ltd (ASX: ANZ) shares are in the buy zone according to analysts at Goldman Sachs. In response to its capital position update on Thursday, the broker has retained its buy rating on the banking giant's shares with an improved price target of $29.42. It said: "We continue to see upside for Group returns due to accretive mix shifts in the Institutional business towards higher ROE Payments and Cash Management business."
