5 things to watch on the ASX 200 on Friday

Here’s what to expect on the ASX 200 on Friday…
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 and charged higher. The benchmark index rose 0.3% to 7,387.6 points.

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

ASX 200 expected to rise

The Australian share market looks set to end the week in a positive fashion. 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 solid night of trade on Wall Street, which late on sees the Dow Jones up 0.8%, the S&P 500 up 0.8% and the Nasdaq up 1%.

ASX opening hours

Today is of course Christmas Eve. As per previous years, trading will finish earlier than normal today. You’ll need to make sure you get your trades in before 14:00 Eastern Standard Time or you’ll miss out. The ASX share market will then be closed until Wednesday 27 December due to the public holidays on Monday and Tuesday.

Oil prices storm higher

It could be a great end to the week for energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices pushed higher again. According to Bloomberg, the WTI crude oil price is up 1.15% to US$73.61 a barrel and the Brent crude oil price is up 1.7% to US$76.53 a barrel. Oil prices were boosted by reports that the worst effects of the Omicron variant might be more containable than previously feared.

Bega given neutral rating

The team at Goldman Sachs has given its verdict on the Bega Cheese Ltd (ASX: BGA) share price after its disappointing trading update. According to the note, the broker has retained its neutral rating and slashed its price target by 13% to $5.65. Goldman notes that its “earnings have been impacted by a decline in milk supply and pressure on margins, caused by continued strong competition for milk amongst processors.”

Gold price rises

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price rose. According to CNBC, the spot gold price is up 0.4% to US$1,810.1 an ounce. The gold price held firm despite easing Omicron concerns.

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

Here are the top 10 ASX shares today

These 3 ASX 200 shares are topping the volume charts this Thursday

Is the Santos (ASX:STO) share price good value after the Oil Search merger?

What are experts saying to expect for ASX hydrogen shares in 2022?

Why Afterpay, Bega, FAR, and WiseTech shares are falling

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 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.

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