5 things to watch on the ASX 200 on Friday

Afterpay Ltd (ASX:APT) and Santos Ltd (ASX:STO) shares will be on watch on the ASX 200 on Friday. Here’s what you need to know…
The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia. –

ASX share

On Thursday the S&P/ASX 200 Index (ASX: XJO) was out of form again and dropped lower. The benchmark index fell 0.7% to 6,745.9 points.

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

ASX 200 to fall

The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.5% lower this morning. This follows a poor night on Wall Street, which in late trades sees the Dow Jones down 0.2%, the S&P 500 down 1.1%, and the Nasdaq sinking 2.5% lower. Rising bond yields have spooked investors again.

ASX 200 tech shares under pressure

It looks set to be a difficult end to the week for Australian tech shares such as Afterpay Ltd (ASX: APT) and Appen Ltd (ASX: APX) on Friday. This follows another selloff of US tech stock overnight after US treasury yields surged higher. According to CNBC, the 10-year Treasury yield surged to 14-month high of 1.75% and the 30-year rate topped 2.5%. Given how the local tech sector tends to follow the Nasdaq’s lead, which is down 2.5%, this doesn’t bode well for today’s trading session.

Oil prices crash

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) are likely to end the week deep in the red after oil prices crashed lower overnight. According to Bloomberg, the WTI crude oil price is down 8.1% to US$59.34 a barrel and the Brent crude oil price has fallen 8% to US$62.56 a barrel. A rising US dollar, a build-up of US crude and fuel inventories, and concerns over a stuttering vaccine rollout were behind the decline.

Gold price rises

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after a positive night of trade for the gold price. According to CNBC, the spot gold price is up 0.4% to US$1,733.90 an ounce. The precious metal rose despite bond yields hitting new 14-month highs.

Webjet shares given buy rating

The Webjet Limited (ASX: WEB) share price could be going higher from here according to Goldman Sachs. Following its investor update yesterday, the broker has reiterated its buy rating and $7.36 price target. Goldman notes that Webjet is aiming to grow its WebBeds business materially more than it was forecasting. It notes management’s target of a TTV of $10 billion, compared to its forecast of $3.9 billion.

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 February 15th 2021

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Appen Ltd. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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!