5 things to watch on the ASX 200 on Thursday

CSL Limited (ASX:CSL) and Northern Star Resources Ltd (ASX:NST) shares will be on watch on the ASX 200 on Thursday…
The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia. –

On Wednesday the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped lower. The benchmark index fell 0.3% to 6,682.4 points.

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

ASX 200 futures pointing higher.

The Australian share market looks set to bounce back on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% higher this morning. This follows a positive night on Wall Street which in late trade sees the Dow Jones up 0.3%, the S&P 500 up 0.2%, and the Nasdaq 0.3% higher.

Oil prices higher.

Energy producers such as Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could be on the rise today after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.7% to US$48.34 a barrel and the Brent crude oil price has risen 0.3% to US$51.23 a barrel. A decent U.S. inventory draw helped support prices.

UK approves AstraZeneca-Oxford University COVID vaccine.

The United Kingdom has become the first country to approve the COVID-19 vaccine developed by Oxford University and AstraZeneca for emergency use. Trials have shown that the vaccine is safe and about 70% effective against the virus, though AstraZeneca believes that its true efficacy is much stronger. This could be good news for the CSL Limited (ASX: CSL) share price. The biotech giant is already manufacturing millions of doses of this vaccine in Melbourne.

Gold price rises.

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could finish the shortened week strongly. According to CNBC, the spot gold price has risen 0.7% to US$1,896 an ounce. The gold price firmed up after the U.S. dollar sank to a multi-year low.

Early close.

The Australian share market will be closing early on Thursday ahead of the New Years break. According to the ASX, normal trading will cease at 14:10 Sydney time. After which, the market will be reopening as normal again on Monday of next week.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

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 CSL Ltd. 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.

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

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!