On Thursday, the S&P/ASX 200 Index (ASX: XJO) fought hard but slipped into the red. The benchmark index fell slightly to 8,595.8 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 rise on Friday following a strong night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 26 points or 0.3% higher this morning. On Wall Street, the Dow Jones was up 0.8%, the S&P 500 rose 0.8%, and the Nasdaq stormed 1% higher.
It could be a subdued finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 0.45% to US$67.15 a barrel and the Brent crude oil price is down 0.35% to US$68.88 a barrel. Oil prices fell on US tariff and OPEC uncertainty.
Lynas Rare Earths Ltd (ASX: LYC) shares are expensive according to analysts at Bell Potter. This morning, the broker has reaffirmed its sell rating with a reduced price target of $6.05. It said: "We maintain our sell recommendation and reduce our target price to $6.05/sh (previously $6.25/sh). Whilst we like the business, asset, and team, we believe there is significant optimism priced into the stock, with investors using it as a hedge on USChina relations. LYC is well poised, if or when, the tides shift for NdPr, with sufficient installed capacity and leverage."
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a poor finish to the week after the gold price fell overnight. According to CNBC, the gold futures price is down 0.7% to US$3,336.4 an ounce. This was driven by the release of strong US economic data which has reduced rate cut hopes.
Pro Medicus Ltd (ASX: PME) will be on watch today after analysts at Bell Potter downgraded the high-flying health imaging technology company's shares. The broker has downgraded its shares to a hold rating (from buy) with an improved price target of $320.00 (from $280.00). In response to a new contract win, the broker said: "Revenues are increased by ~3% in FY26. Earnings increases are negligible. PT is increased to $320, recommendation is downgraded to Hold from Buy based on movement in valuation."
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