On Thursday, the S&P/ASX 200 Index (ASX: XJO) was out of form and edged into the red. The benchmark index fell 0.1% to 8,523.7 points.
Will the market bounce back from this on Friday and end the week on a high? Here are five things to watch:
The Australian share market looks set to fall again on Friday following a mixed night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 27 points or 0.3% lower this morning. On Wall Street, the Dow Jones was down 0.1%, the S&P 500 fell slightly, and the Nasdaq edged 0.1% higher.
It could be a decent finish to the week for ASX 200 energy shares including Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices pushed higher again overnight. According to Bloomberg, the WTI crude oil price is up 0.9% to US$75.80 a barrel and the Brent crude oil price is up 2.65% to US$78.74 a barrel. Oil prices charged higher after Israel stated its plan to intensify attacks on oil-rich Iran.
Regis Resources Ltd (ASX: RRL) shares are a close to being fully valued according to analysts at Bell Potter. This morning, the broker has retained its hold rating on the gold miner's shares with an improved price target of $4.82. It said: "We remain attracted to RRL's all-Australian, multi-mine asset portfolio, its demonstrated leverage to the gold price, sector leading cash generation and its fully unhedged, debt free position. Our NPV-based target price lifts 2%, to $4.82/sh. We maintain our Hold recommendation."
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued finish to the week after the gold price dropped overnight. According to CNBC, the gold futures price is down 0.6% to US$3,387.4 an ounce. The precious metal has fallen since the US Federal Reserve left interest rates unchanged this week.
Newmont Corporation (ASX: NEM) shareholders will have reason to smile on Friday. That's because the gold mining giant will be rewarding them with its latest dividend payment. In April, Newmont released its first quarter update and declared a 26.8 cents per share dividend. This will be making its way into the accounts of eligible shareholders later today.
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