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 8,550.8 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 rebound on Friday following a strong night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 52 points or 0.6% higher this morning. On Wall Street, the Dow Jones was up 0.95%, the S&P 500 rose 0.8%, and the Nasdaq stormed 1% higher.
It could be a decent finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.65% to US$65.34 a barrel and the Brent crude oil price is up 0.25% to US$67.84 a barrel. Traders were buying oil after crude and fuel inventories fell in the United States.
Electro Optic Systems Holdings Ltd (ASX: EOS) shares are undervalued according to analysts at Bell Potter. This morning, the broker has retained its buy rating on the defence and space company's shares with an improved price target of $3.10 (from $2.15). It said: "Whilst we anticipate some volatility around the 1H25 result, we are bullish on the 12- month view for EOS considering the material sales opportunities during this period."
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a relatively positive finish to the week after the gold price edged higher overnight. According to CNBC, the gold futures price is up slightly to US$3,343.9 an ounce. A weaker US dollar appears to have been behind this.
A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes the likes of APA Group (ASX: APA), Centuria Capital Group (ASX: CNI), Charter Hall Group (ASX: CHC), Dexus (ASX: DXS), Goodman Group (ASX: GMG), and Transurban Group (ASX: TCL). The latter will be paying its shareholders a 33 cents per share final dividend in a touch under two months on 22 August.
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