On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red again. The benchmark index fell 0.5% to 8,353.6 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 a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 39 point or 0.5% higher this morning. In late trade in the United States, the Dow Jones is flat, the S&P 500 is up 0.85%, and the Nasdaq is 1.7% higher.

Buy Pro Medicus shares

The team at Goldman Sachs thinks that Pro Medicus Limited (ASX: PME) shares could be in the buy zone still. This morning, the broker has retained its buy rating with an improved price target of $278.00. It said: "We remain positive on the PME equity story as one of Australia's best global growth companies, highlighted once again through Trinity Health, driving FY27E EBITDA revisions of +8% (GSe +5% vs. Visible Alpha Consensus Data). We forecast a strong increase in the value and cadence of contract wins over time; however, outsized contracts (i.e. >A$100mn), where visibility is limited in terms of size and timing, could provide material upside."

Oil prices jump

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a great session after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 2.2% to US$70.12 a barrel and the Brent crude oil price is up 1.7% to US$73.40 a barrel. Traders were buying oil after the EU placed further sanctions on Russian oil.

Gold price races higher

It could be a positive session for ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price raced higher overnight. According to CNBC, the gold futures price is up 1.2% to US$2,751 an ounce. The release of US inflation data boosted interest rate cut optimism.

Liontown rated as a buy

Liontown Resources Ltd (ASX: LTR) shares could have major upside according to analysts at Bell Potter. This morning, the broker has retained its speculative buy rating and lofty $1.40 price target on its shares. This is more than double its current share price. It said: "LTR's 100% owned Kathleen Valley lithium project remains highly strategic in terms of scale, long project life and location in a tier-one mining jurisdiction. LTR has offtake contracts with top-tier EV and battery OEMs. Under our modelled assumptions, we expect that LTR is fully funded to free cash flow."