5 things to watch on the ASX 200 on Friday

MotleyFool
01-31

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form and pushed higher again. The benchmark index rose 0.55% to 8,493.7 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise again

The Australian share market looks set to push higher again on Friday following a positive night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 58 points or 0.7% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.55%, the S&P 500 is up 0.55%, and the Nasdaq is 0.2% higher.

Oil prices rise

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a relatively positive finish to the week after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up 0.1% to US$72.68 a barrel and the Brent crude oil price is up 0.35% to US$76.84 a barrel. This follows news that Donald Trump is threatening tariffs on Canada and Mexico.

ResMed second quarter results

ResMed Inc. (ASX: RMD) shares will be on watch on Friday when the sleep disorder treatment company released its second quarter. According to a note out of Goldman Sachs, its analysts are expecting ResMed to report quarterly revenue of US$1,265 million, non-GAAP gross profit of US$754 million, and non-GAAP net income of US$349 million. Finally, GAAP net profit after tax is forecast to come in at US$332 million for the three months.

Gold price jumps

ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a great session after the gold price jumped overnight. According to CNBC, the gold futures price is up 1.8% to US$2,843.7 an ounce. Trump tariff concerns led to an increase in safe haven demand.

Buy Perpetual shares

Perpetual Ltd (ASX: PPT) shares could be in the buy zone according to analysts at Bell Potter. In response to the diversified financial services company's second quarter update, the broker has reaffirmed its buy rating and $25.40 price target. This implies potential upside of 17% for investors over the next 12 months. It said: "With the demerger of the CT + WM businesses in doubt, the short-term investment thesis aligns with the priorities identified by the new CEO to improve the performance and valuation of the asset management business."

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