5 things to watch on the ASX 200 on Thursday

The ASX 200 looks set to have a great day…
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 ended the day in the red. The benchmark index fell 0.15% to 7,304.7 points.

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

ASX 200 expected to rebound

The Australian share market looks set to rebound on Thursday following an excellent night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 38 points or 0.5% higher this morning. On Wall Street, the Dow Jones rose 2.8%, the S&P 500 climbed 3% and the Nasdaq traded 3.2% higher. Investors were betting on the Federal Reserve taming inflation without causing an economic slowdown.

NAB half-year results

The National Australia Bank Ltd (ASX: NAB) share price will be one to watch when the banking giant releases its half-year results. According to a note out of Goldman Sachs, its analysts expect NAB to report first half cash earnings before one-offs of $3,545 million. This will be a 6% increase on the prior corresponding period. As for dividends, the broker expects the NAB board to declare a fully franked interim dividend of 72 cents per share. This will be a 20% increase on the same period last year.

Oil prices surge

It could be a very good day for energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices surged higher. According to Bloomberg, the WTI crude oil price is up 5.4% to US$107.95 a barrel and the Brent crude oil price is up 5.2% to US$110.41 a barrel. The prospect of a European ban on Russian oil drove prices higher.

ANZ shares downgraded

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price could be close to being fully valued according to analysts at Goldman Sachs. In response to its half-year results, the broker has downgraded the bank’s shares to a neutral rating with a $29.84 price target. Goldman believes the removal of ANZ’s cost reduction target has removed valuation support.

Gold price tumbles

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.9% to US$1,886.60 an ounce. Inflation risks gave the precious metal a boost.

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 over ten 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 January 12th 2022

More reading

Here are the top 10 ASX shares today
How is the AMP share price looking in May?
Wesfarmers share price slips as Bunnings competition heats up
Everything you need to know about the latest ANZ dividend
Here are the 3 most heavily traded ASX 200 shares on Wednesday

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 Scott Phillips.

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.

  • This field is for validation purposes and should be left unchanged.

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 - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US & HK* Trades. Click Here!