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.

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

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.

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!