5 things to watch on the ASX 200 on Thursday

A good day may await Australian investors today after the US election result.

A woman presenting company news to investors looks back at the camera and smiles.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a great session and stormed higher. The benchmark index jumped 0.8% to 8,199.5 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set for another positive session on Thursday following a fantastic night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 1 point higher this morning. In late trade in the United States, the Dow Jones is up 3.4%, the S&P 500 is up 2.4%, and the Nasdaq is 2.8% higher.

Trump wins the US election

Australian shares look set to rise on Thursday after Donald Trump stormed to victory in the US election. As mentioned above, Wall Street was on fire following the news, with US stocks roaring higher. Dual listed shares such as Block Inc (ASX: SQ2) and Life360 Inc. (ASX: 360) have pushed higher on the news. But small cap stocks were the biggest winner on Wall Street, with the Russell 2000 jumping 5%. This may bode well for Aussie small caps on Thursday.

Oil prices fall

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) look set to have a poor session after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 1.4% to US$70.97 a barrel and the Brent crude oil price is down 1.5% to US$74.38 a barrel. This was driven by a stronger US dollar following news of Donald Trump's election victory.

Gold price sinks

It looks set to be a difficult session for ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price sank overnight. According to CNBC, the gold futures price is down 3% to US$2,666.1 an ounce. A strong US dollar put pressure on the precious metal.

NAB FY 2024 results

National Australia Bank Ltd (ASX: NAB) shares will be on watch today when the banking giant will become the second big four bank to report its full year results this month. As covered here, the team at UBS is forecasting NAB to report revenue of $20.3 billion, a pre-tax profit of $9.87 billion, and a net profit of $6.9 billion for FY 2024. The consensus estimate is for total dividends of $1.68 per share for the year.

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Block and Life360. 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.

More on Share Market News

a drink poured from a bottle into a glass
Opinions

2 shares I'll be adding to my portfolio – even with the ASX near all-time highs

Even though the markets are near record highs, there is still value to be found.

Read more »

Happy shareholders clap and smile as they listen to a company earnings report.
Share Gainers

Why Brainchip, Cooper Energy, Core Lithium, and Neuren shares are roaring higher today

These shares are having a good time on hump day. But why?

Read more »

A little Asian girl is so excited by the bubbles coming out of her bubble machine.
Opinions

Worried about a frothy market? 2 ASX shares attractively priced AND 1 dead simple buy

Pricey markets don't require sitting on the sidelines.

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Bellevue, Domain, Skycity, and Wildcat shares are tumbling today

These shares are having a tough time on hump day. But why?

Read more »

A man looks a little perplexed as he holds his hand to his head as if thinking about something as he stands in the aisle of a supermarket.
Opinions

This ASX 200 share is trading near 52-week lows. Is it time to buy?

Is this one of the most underrated stocks on the ASX right now?

Read more »

Broker looking at the share price.
Broker Notes

3 ASX All Ords shares just got BIG upgrades from top brokers

Leading brokers believe these ASX All Ords stocks could fly higher into 2025.

Read more »

A young well-dressed couple at a luxury resort celebrate successful life choices.
Opinions

Want to become wealthy? Invest in ASX shares for 2030 rather than 2025

Long-term investing in ASX shares make a lot of sense to me.

Read more »

A couple lying down and laughing, symbolising passive income.
Opinions

How to invest in ASX shares for big capital gains AND passive income

Certain types of ASX shares are capable of producing good returns, including dividends.

Read more »