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On Thursday, the S & P / ASX 200 (ASX: XJO) index was back in shape and up. The benchmark rose 0.3% to 6,528.4 points.
Will the market be able to build it on Friday and end the week with the maximum? Here are five things to see:
The ASX 200 is expected to go down
The Australian stock market looks set to open the day in the red. According to the latest SPI futures, the ASX 200 is expected to open 10 points or 0.15% lower this morning. Still, it’s worth noting that futures contracts may not yet have picked up a late rebound in the U.S., which saw the Dow Jones rise 0.65%, the S&P 500 0.95% and the Nasdaq a 1.6%.
Oil prices are falling
Energy producers like Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WPL) could have a bad end the week after the fall in oil prices. According to Bloomberg, the price of WTI crude has fallen 1.85% to $ 104.22 a barrel and the price of Brent crude has fallen 1.6% to $ 109.93 a barrel. Fears that rising interest rates could hurt demand are being blamed for these falls.
Neutral TPG classification
According to Goldman Sachs analysts, the share price of TPG Telecom Ltd (ASX: TPG) could be close to being fully valued. In response to the day of the telecommunications company’s investors, the broker has maintained its neutral rating with a target price of $ 6.20. Goldman points out that there is a “significant mobile opportunity in a rational market [but] Higher interest drives EPS sales. “
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 0.6% to $ 1,826.4 an ounce. Comments from the US Fed related to inflation moderation weighed on the safe haven asset.
The Westpac dividend is paid
Today is payday for Westpac Banking Corp (ASX: WBC) shareholders. This morning, Australia’s oldest bank will reward its shareholders with an interim dividend of 61 cents per share. This is the equivalent of a 3% return at current prices.