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On Thursday, the S & P / ASX 200 index (ASX: XJO) was in shape and charged higher. The benchmark rose 0.45% to 6,650.6 points.
Will the market be able to build it on Friday and end the week with the maximum? Here are five things to see:
ASX 200 is expected to drop
The Australian stock market looks set to end the week in the red after a bad night of trading on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 53 points or 0.8% less this morning. In the United States, the Dow Jones fell 0.45%, the S&P 500 fell 0.3% and the Nasdaq traded flat.
The price of oil goes up a lot
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a decent end to the week after oil prices rose. According to Bloomberg, the price of WTI crude is up 0.15% to $ 96.44 a barrel and the price of Brent crude is up 0.25% to $ 99.81 a barrel. Supply refers to rising prices.
Quarterly update of Rio Tinto
The stock price of Rio Tinto Limited (ASX: RIO) will be monitored this morning when the mining giant releases its second-quarter and first-half production update. According to a note from Goldman Sachs, its analysts expect quarterly shipments of iron ore of 78.7Mt and the consensus estimate is 79.3Mt. The market will also hear comments on cost inflation.
The price of gold is falling
Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a difficult end to the week after the price of gold fell overnight. According to CNBC, the price of spot gold has dropped 1.6% to $ 1,708.20 an ounce. Growing bets to raise U.S. Fed rates weighed on the safe haven asset.
AVZ shares are about to return
Shares of AVZ Minerals Ltd (ASX: AVZ) are about to return from their long suspension Friday morning. This conflicting lithium developer is currently fighting for legal action from a Chinese company that claims to have a stake in the Manono Lithium project. If things do not go as planned, there is a fear that AVZ will end up owning only 36% of the project.