On Thursday, the S&P/ASX 200 Index (ASX: XJO) fought hard to deliver the smallest of gains. The benchmark index rose a touch to 8,205.2 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 fall
The Australian share market looks set to fall on Friday following a poor session in the United States. According to the latest SPI futures, the ASX 200 is expected to open 25 points or 0.3% lower this morning. On Wall Street, the Dow Jones was down 0.45%, the S&P 500 fell 0.2%, and the Nasdaq edged slightly lower.
Oil prices jump
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a great finish to the week after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 5.2% to US$73.78 a barrel and the Brent crude oil price is up 5.1% to US$77.65 a barrel. This was driven by concerns over rising tensions in the Middle East.
BHP and Rio Tinto on watch
BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) shares look set to end their winning run on Friday and tumble into the red. Both mining giants were under pressure on the NYSE overnight and dropped into the red. This may have been driven by a 2.2% decline in the copper price, which offset a modest rise in the benchmark iron ore price. In addition, profit taking could be weighing on their shares after some strong gains by BHP and Rio Tinto in recent weeks.
Gold price edges higher
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) look set to have a relatively positive finish to the week after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.3% to US$2,677.5 an ounce. Safe haven demand drove the precious metal higher.
Buy Hub24 shares
HUB24 Ltd (ASX: HUB) shares could be heading even higher according to analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating on the investment platform provider's shares with an improved price target of $66.50. This implies potential upside of approximately 12% for investors over the next 12 months. The HUB24 share price is up almost 90% since this time last year but the broker believes it can keep rising.
