5 things to watch on the ASX 200 on Thursday

Here's what to expect on the local market today.

A bored woman looking at her computer, it's bad news.

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

sdf

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a good session and charged higher. The benchmark index was up 0.7% to 7,999 points.

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

ASX 200 expected to tumble

The Australian share market looks set to tumble on Thursday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 49 point or 0.6% lower this morning. In late trade in the United States, the Dow Jones is down 0.4%, the S&P 500 is down 1.2%, and the Nasdaq is 2.2% lower.

Oil prices rise

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1% to US$69.72 a barrel and the Brent crude oil price is up 1.1% to US$73.83 a barrel. A stronger than expected US fuel stock draw and Venezuelan supply concerns boosted prices.

Dividends being paid

Today is a big day for many Australian investors with a host of large ASX 200 shares rewarding their shareholders with their latest dividends. Among the companies making payments on Thursday are mining giants BHP Group Ltd (ASX: BHP) and Fortescue Ltd (ASX: FMG), energy giant AGL Energy Limited (ASX: AGL), supermarket leader Coles Group Ltd (ASX: COL), and lotteries company Lottery Corporation Ltd (ASX: TLC).

Gold price softens

It could be a subdued session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) on Thursday after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.1% to US$3,022.8 an ounce. The gold price softened after the US dollar strengthened.

Buy CSL shares

The team at Bell Potter is urging investors to buy CSL Ltd (ASX: CSL) shares. Following a review of the healthcare sector, the broker has reaffirmed its buy rating and $335.00 price target on the biotechnology giant's shares. This implies potential upside of 32% for investors over the next 12 months. It said: "CSL is trading at a 9-year low PE (22x) with a double-digit earnings growth outlook as Behring (particularly Ig) continues drive earnings despite headwinds elsewhere."

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Lottery. The Motley Fool Australia has positions in and has recommended Coles Group. The Motley Fool Australia has recommended BHP Group, CSL, and Lottery. 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

Business man at desk looking out window with his arms behind his head at a view of the city and stock trends overlay.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A Santos oil and gas worker wearing a hard hat stands in a yellow field looking at blueprints with an oil rig and blue sky in the background
Share Market News

Energy shares rip amid Middle East tensions while ASX 200 surges 20% from April low

ASX energy shares roared 6.49% higher while the ASX 200 lifted 0.37% and set a new record last week.

Read more »

A young man wearing a black and white striped t-shirt looks surprised.
Broker Notes

These ASX 200 shares could rise 25% to 80%

Analysts think big returns could be on offer from these shares.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors were nervous this Friday, ending the week on a sour note.

Read more »

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Share Market News

Where to invest $5,000 into ASX 200 shares this month

The team at Bell Potter is bullish on these names. But why?

Read more »

Man pointing an upward line on a bar graph symbolising a rising share price.
52-Week Highs

8 ASX 200 shares hitting multi-year highs today

These shares have defied the trend, hitting new price milestones amid a day in the red for the ASX 200.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why EOS, Evolution Mining, Renascor, and Woodside shares are jumping today

These shares are ending the week on a high. But why?

Read more »