5 things to watch on the ASX 200 on Friday

Will the market end the week on a positive note? Let's find out.

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.3% to 8,045.1 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:

ASX 200 expected to rise

The Australian share market looks set to rebound on Friday despite a mixed session in the United States. According to the latest SPI futures, the ASX 200 is expected to open 27 points or 0.35% higher this morning. On Wall Street, the Dow Jones was up 0.6%, the S&P 500 ended the session flat, and the Nasdaq edged 0.2% lower.

Oil prices jump

ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) look set to have a good finish to the week after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 2% to US$76.00 a barrel and the Brent crude oil price is up 1.75% to US$80.02 a barrel. This was driven by supply disruption in Libya and plans for a production cut in Iraq.

Final set of results

Earnings season will draw to a close today when the last group of ASX 200 shares release their results. Among the companies handing down their report cards are integrated services provider Downer EDI Ltd (ASX: DOW), private hospital operator Ramsay Health Care Ltd (ASX: RHC), and telco giant TPG Telecom Ltd (ASX: TPG).

Gold price rises

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good finish to the week after the gold price pushed higher during overnight trade. According to CNBC, the spot gold price is up 0.65% to US$2,554.5 an ounce. The prospect of interest rate cuts next month is boosting the precious metal.

Buy Qantas shares

Qantas Airways Limited (ASX: QAN) shares could be great value according to analysts at Goldman Sachs. In response to the airline operator's full year results, the broker has reiterated its conviction buy rating and $8.05 price target on its shares. Goldman said: "An inline result and generally consistent/better than expected outlook commentary further suggest that earnings have been sustainably reset higher. This is reinforced by a 2H improvement in key operating metrics that precludes the need for a substantial uplift in customer investment."

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. 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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