Insights

5 things to watch on the ASX 200 on Friday

Fortescue Metals Group Limited (ASX:FMG) and ResMed Inc (ASX:RMD) shares will be on watch on the ASX 200 on Friday…
The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia. –

Investor sitting in front of multiple screens watching share prices

On Thursday the S&P/ASX 200 Index (ASX: XJO) was a sea of red after having its worst day in months. The benchmark index fell 1.9% to 6,649.7 points.

Will the market be able to bounce back from this on Friday? Here are five things to watch:

ASX 200 poised to rebound

The ASX 200 looks set to rebound strongly from Thursday’s selloff. According to the latest SPI futures, the ASX 200 is poised to open the day 95 points or 1.45% higher this morning. In late trade on Wall Street, the Dow Jones is up 1.8%, the S&P 500 is up 1.9%, and the Nasdaq index is 1.5% higher.

ResMed Q2 update

The ResMed Inc (ASX: RMD) share price will be one to watch this morning when it releases its second quarter update. The market is expecting the medical device company to report another year on year jump in ventilator sales because of the pandemic. All eyes will be on how its core sleep treatment business is performing in the current environment.

Oil prices fall

Energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could end the week in the red after oil prices softened. According to Bloomberg, the WTI crude oil price is down 0.7% to US$52.49 a barrel and the Brent crude oil price has fallen 0.3% to US$55.65 a barrel. Demand fears and a stronger U.S. dollar weighed on prices.

Gold price softens

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price dropped lower again. According to CNBC, the spot gold price is down 0.25% to US$1,840.70 an ounce. The precious metal came under pressure after safe-haven appeal shifted to the US dollar.

Fortescue given neutral rating

The Fortescue Metals Group Limited (ASX: FMG) share price could be fully valued according to one leading broker. Analysts at Goldman Sachs have responded to its second quarter update by reaffirming their neutral rating and $19.70 price target. The broker is, however, forecasting a very attractive 11% dividend yield for FY 2021.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!