Insights

5 things to watch on the ASX 200 on Thursday

It looks set to be another busy day 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) gave back its morning gains and tumbled lower. The benchmark index fell 0.3% to 7,270.2 points.

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

ASX 200 expected to fall

The Australian share market looks set to extend its decline on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% lower this morning. This follows a poor night of trade on Wall Street, which saw the Dow Jones fall 0.4%, the S&P 500 drop 0.2%, and the Nasdaq edge 0.1% lower.

Carsales has major growth opportunity

The Carsales.Com Ltd (ASX: CAR) share price will be on watch today after being the subject of a positive broker note out of Goldman Sachs. It commented: “We believe there is a significant opportunity for CAR to capitalize on its dominant market position and evolve from a listing based advertising platform, into a much more holistic marketplace model […] We estimate that CAR dealer revenues currently represent just 2.7% of the A$5.4bn dealer GP market.”

Oil prices fall

Energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) will be on watch after oil prices softened. According to Bloomberg, the WTI crude oil price is down 0.5% to US$69.71 a barrel and the Brent crude oil price has fallen 0.3% to US$72.00 a barrel. Weaker than anticipated fuel demand in the US weighed on prices.

Gold price edges lower

Gold miners Evolution Mining Ltd (ASX: EVN) and Resolute Mining Limited (ASX: RSG) could trade lower today after the gold price weakened overnight. According to CNBC, the spot gold price is down 0.15% to US$1,891.50 an ounce. Traders appear nervous ahead of tonight’s US inflation data release.

Iron ore price rises

The BHP Group Ltd (ASX: BHP) share price could be given a boost today by rising iron ore prices. According to Metal Bulletin, the steel making ingredient has extended its recent gains and was up a further 1.5% to US$212.67 a tonne overnight.

The post 5 things to watch on the ASX 200 on Thursday 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

Top brokers name 3 ASX shares to buy today

ASX 200 drops, Brickworks soars, Woolworths falls

Resolute Mining (ASX:RSG) share price dips on debt update
Thomson Resources (ASX:TMZ) share price surges on exploration results
These 3 ASX 200 shares are the most actively traded today

James Mickleboro does not own any shares 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 recommended carsales.com 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!