Insights

5 things to watch on the ASX 200 on Friday

How will the ASX 200 close out the week?
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 on form again and recorded a modest gain. The benchmark index rose 0.2% to 7,341.4 points.

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

ASX 200 expected to sink

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 46 points or 0.6% lower this morning. This follows a poor night on Wall Street which saw the Dow Jones fall 0.75%, the S&P 500 drop 0.85%, and the Nasdaq tumble 0.7% lower. Global economic recovery concerns weighed on investor sentiment.

Oil prices rebound

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a solid finish to the week after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 1.3% to US$73.14 a barrel and the Brent crude oil price is up 1.2% to US$74.32 a barrel. Traders were bidding oil prices higher after positive US inventory data.

Iron ore price falls

Miners with iron ore exposure such as BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) could come under pressure today after the price of the steel-making ingredient softened. According to Metal Bulletin, the spot iron ore price fell almost 2% to US$218.04 a tonne.

Netwealth given neutral rating

The Netwealth Group Ltd (ASX: NWL) share price could be fully valued according to analysts at Goldman Sachs. This morning the broker responded to the investment platform provider’s fourth quarter update by retaining its neutral rating but lifting its price target to $16.33. Goldman was pleased with its solid end to the year but remains neutral on valuation grounds. The Netwealth share price is currently trading at $16.30.

Gold price rises

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after the gold price edged higher. According to CNBC, the spot gold price is up 0.1% to US$1,803 an ounce. Traders were buying the precious metal amid concerns over the US recovery from COVID-19.

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

Can the ASX 200 hit 8,000 points by the end of the year?

Mining shares in the ASX 200 might unearth US$26b worth of dividends

How new US oil forecasts could impact ASX energy shares

The BHP Group share price is rising again — so where to from here?

Netwealth (ASX:NWL) share price up 5% on quarterly update

Motley Fool contributor 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 and has recommended Netwealth. The Motley Fool Australia owns shares of and has recommended Netwealth. 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!