Insights

5 things to watch on the ASX 200 on Thursday

Here’s what to expect 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 again and dropped lower. The benchmark index fell 0.15% to 7,423.9 points.

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

ASX 200 expected to fall again

The Australian share market looks set to fall on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% lower this morning. This follows a poor night on Wall Street, which in late trade sees the Dow Jones down 0.55%, the S&P 500 down 0.75%, and the Nasdaq down 1.6%. The highest US inflation reading in 30 years appears to have spooked investors and caused a spike in bond yields.

Oil prices sink

Energy shares including Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 2.9% to US$81.72 a barrel and the Brent crude oil price has fallen 2.2% to US$82.91 a barrel. Traders were selling oil after U.S. crude inventories rose by 1 million barrels in the most recent week.

Xero’s half year results

The Xero Limited (ASX: XRO) share price will be one to watch on Thursday when it releases its half year results. According to a note out of Goldman Sachs, it is expecting the cloud accounting platform provider to deliver revenue growth of 33% in FY 2022. Its analysts will therefore be looking for a first half growth rate that positions the company to achieve this.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good day after the gold price pushed higher. According to CNBC, the spot gold price is up 1% to US$1,848.2 an ounce. Traders were buying gold despite the higher than expected US inflation reading and rising bond yields.

AGMs being held

A number of ASX 200 companies are holding their annual general meetings today and could provide updates on their performances. Among the companies holding their meetings are BHP Group Ltd (ASX: BHP) (after market), Breville Group Ltd (ASX: BRG), Nearmap Ltd (ASX: NEA), and Nine Entertainment Co Holdings Ltd (ASX: NEC).

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 August 16th 2021

More reading

Here are the top 10 ASX shares today

These 3 ASX 200 shares are topping the volume charts on Wednesday

CSL (ASX:CSL) share price is the latest to be upgraded by a top broker

Investors are buying up ARB (ASX:ARB) shares this month, but the company chair has been selling

Why are ASX 200 mining shares having such a lousy day?

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. owns shares of and has recommended Nearmap Ltd. and Xero. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. and Xero. 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!