Insights

5 things to watch on the ASX 200 on Friday

Will the ASX 200 finish the week on a high?
The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia. –

On Thursday the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled lower again. The benchmark index fell 0.3% to 7,275.3 points.

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

ASX 200 expected to rebound

The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 44 points or 0.6% higher this morning. This follows a strong night on Wall Street which saw the Dow Jones rise 0.95%, the S&P 500 climb 0.6%, and the Nasdaq push 0.7% higher.

Oil prices near three-year highs

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the rise after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.3% to US$73.30 a barrel and the Brent crude oil price is up 0.5% to US$75.55 a barrel. Drawdowns in U.S. inventories and accelerating German economic activity pushed oil prices close to three-year highs.

NEXTDC given conviction buy rating

The Nextdc Ltd (ASX: NXT) share price could be in the buy zone according to analysts at Goldman Sachs. This morning the broker has reiterated its conviction buy rating and put a $14.80 price target on the data centre operator’s shares. This follows a recent analyst day held by rival Equinix which highlighted the robust outlook for interconnected data centres.

Iron ore prices soften

BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares will be on watch on Friday after the iron ore price softened. According to Metal Bulletin, the spot iron ore price fell 1.2% overnight to US$213.46 a tonne.

Gold price falls

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could end the week in the red after the gold price dropped again. According to CNBC, the spot gold price is down 0.55% to US$1,773.90 an ounce. Traders were selling the precious metal after comments out of the US Fed.

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

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

2 ASX mining shares that could be buys

ASX 200 drops again, Westpac falls, Transurban down

Is the Fortescue (ASX:FMG) share price a buy with a potential 21% yield?
Why these 2 ASX uranium shares are leaping higher again today

Top brokers name 3 ASX shares to sell today

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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!