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5 things to watch on the ASX 200 on Friday

It looks set to be a positive finish to the week for the ASX 200…
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) continued its positive run with the smallest of gains. The benchmark index rose 3.9 points to end the day at 7,588.2 points.

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

ASX 200 futures pointing higher

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 29 points or 0.4% higher this morning. This follows a decent night on Wall Street, which saw the Dow Jones rise slightly, the S&P 500 climb 0.3%, and the Nasdaq push 0.35% higher.

Telstra rated as a buy

The Telstra Corporation Ltd (ASX: TLS) share price remains good value according to analysts at Goldman Sachs. It was pleased with its FY 2021 results and particularly the performance of its mobile business. In response to the result, the broker has retained its buy rating and lifted its price target to $4.30.

Oil prices fall

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could end the week in the red after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.4% to US$68.95 a barrel and the Brent crude oil price is down 0.35% to US$71.19 a barrel. US calls for more supply weighed on prices.

NAB shares are in the buy zone

The National Australia Bank Ltd (ASX: NAB) share price could be good value according to Goldman Sachs. This morning the broker retained its conviction buy rating and lifted its price target to $30.62 following a solid third quarter update. Goldman said: “NAB reported unaudited cash earnings from continuing operations of A$1.70 bn, up 1% on the previous period average, run-rating 11% ahead of what was implied by our previous 2H21E forecasts.”

Gold price edges higher

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$1,754.60 an ounce. Traders were buying the precious metal after concerns over US Federal Reserve tapering eased.

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

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More reading

ASX 200 edges higher, Telstra climbs, NAB up

Healthcare, miners among top performing ASX ETFs in July

Here are the top 10 ASX shares today

The ASX reporting wrap-up: Telstra, AGL Energy, Downer

Here are the 3 most heavily traded ASX 200 shares this Thursday

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. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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