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5 things to watch on the ASX 200 on Thursday

On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell…
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 into the red. The benchmark index fell 0.3% to 7,235.9 points.

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

ASX 200 expected to fall

The Australian share market looks set to fall again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 26 points or 0.35% lower this morning. This follows a mixed night on Wall Street, which in late trade sees the Dow Jones up 0.1%, the S&P 500 up 0.3%, and the Nasdaq down 0.2%. US markets were up materially until a case of Omicron was confirmed in the US.

Oil prices edge lower

Energy shares including Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could have a subdued day after oil prices edged lower overnight. According to Bloomberg, the WTI crude oil price is down 0.4% to US$65.90 a barrel and the Brent crude oil price has fallen 0.25% to US$69.06 a barrel. Concerns over a looming supply glut weighed on prices.

Cleanaway ACCC delays

The Cleanaway Waste Management Ltd (ASX: CWY) share price will be on watch today after it revealed that the ACCC has deferred its decision date for the clearance of the company’s acquisition of a portfolio of strategic post-collection assets in Sydney from Suez. However, management remains confident the deal will be approved despite the delay.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.4% to US$1,783 an ounce. The gold price rose due to increased demand for safe haven assets amid omicron-induced volatility.

Premier Investments’ annual general meeting

Premier Investments Limited (ASX: PMV) shares will be in focus on Thursday. The retail conglomerate is holding its annual general meeting later today and could provide investors with an update on the performance of its brands so far in FY 2022.

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

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More reading

Here are the top 10 ASX shares today

Why did the Woolworths (ASX:WOW) share price tumble today?

Woodside (ASX:WPL) share price ends higher on Wednesday after energy giant vows to fight Pluto legal challenge

ASX shares to buy for the Omicron COVID outbreak

Why is the Rio Tinto (ASX:RIO) share price having such a great 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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Premier Investments Limited. 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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