5 things to watch on the ASX 200 on Friday

It looks set to be a tough finish to the week for Aussie investors.

A stressed businessman in a suit shirt and trousers sits next to his briefcase with his head in his hands while the ASX boards behind him show BNPL shares crashing

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On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form and sank into the red. The benchmark index fell 0.95% to 7,859.7 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 sink again

The Australian share market looks set to sink again on Friday following a selloff in the United States. According to the latest SPI futures, the ASX 200 is expected to open 108 points or 1.4% lower this morning. In late trade on Wall Street, the Dow Jones is down 3.7%, the S&P 500 is down 4.5%, and the Nasdaq is 5.6% lower.

Oil prices crash

ASX 200 energy shares including Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) could have a session to forget after oil prices crashed overnight. According to Bloomberg, the WTI crude oil price is down 6.9% to US$66.78 a barrel and the Brent crude oil price is down 6.6% to US$70.00 a barrel. This follows news that OPEC is accelerating its output increases.

Buy Sonic shares

Goldman Sachs thinks investors should be snapping up Sonic Healthcare Ltd (ASX: SHL) shares while they are down. This morning, the broker has initiated coverage on the healthcare company with a buy rating and $32.20 price target. It said: "Funding reforms in Germany are a headwind to growth but unlikely to come as a surprise to investors given the industry's track record of withstanding cuts to reimbursement. The cost reduction initiatives in the US and synergies from the Medisyn & Dr Risch Group (Swiss acquisitions), however will assist to deliver earnings ahead of Visible Alpha Consensus (Gse: +6% FY25 EPS cons)."

Gold price tumbles

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a poor finish to the week after the gold price tumbled overnight. According to CNBC, the gold futures price is down 1.3% to US$3,125.4 an ounce. Not even the gold price could escape the market selloff.

Capricorn shares upgraded

Analysts at Goldman Sachs have upgraded Capricorn Metals Ltd (ASX: CMM) shares to a buy rating with a $9.90 price target. Commenting on the gold miner, the broker said: "With increasingly compelling growth projects at Karlawinda (expansion) and Mt. Gibson (one of few greenfield projects in the sector), both with emerging underground optionality (not in GSe base case), and a strong funding position to execute, we upgrade CMM to Buy."

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