Image source: Getty Images
Wednesday, S&P/ASX 200 Index (ASX:XJO) has returned to normal and started to rise. The benchmark index rose 0.7% to 8,057.9 points.
Will the market be able to capitalize on this on Thursday? Here are five things to watch:
ASX 200 expected to fall
The Australian stock market looks set to fall on Thursday after a bleak night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open down 41 points or 0.5% this morning. In the US, the Dow Jones is up 0.6%, but the S&P 500 is down 1.4% and the Nasdaq is down 2.8%.
Oil prices rise
Energy stocks on the ASX 200 like Beach Energy Co., Ltd. (ASX: BPT) And Woodside Energy Group Limited (ASX: WDS) He may have a good session after oil prices rose overnight. According to BloombergWest Texas Intermediate crude rose 2.6% to $82.89 a barrel, while Brent crude rose 1.6% to $85.09 a barrel. A large drawdown in U.S. inventories helped boost prices.
Buy BHP shares
Goldman Sachs believes BHP Group Limited (ASX: BHPThe company’s shares are well-valued at current levels. In response to the mining giant’s Q4 update, the broker maintained a Buy rating and $48.40 price target on its shares. That implies a potential upside of more than 13% for investors from current levels. “Following the June Q4 results and pre-result financial disclosures, there was little change to our EBITDA outlook; FY26 EPS increased 2% due to minor changes in depreciation, amortization and net interest,” it said.
gold price drop
It could be a quiet session for gold stocks on the ASX 200. Newmont Corporation (ASX: No) And Northern Star Resources Ltd. (ASX: NST) after the price of gold fell overnight. According to CNBC, Spot gold price Gold fell 0.15% to $2,464.3 an ounce today, apparently on profit-taking after the metal hit an all-time high the day before.
Job cuts at Fortescue
Fortescue Limited (Australian Stock Exchange: FMGFortescue shares will be watched today after the company announced significant job cuts. While the company “remains steadfast in its commitment to be the world’s leading green technology, energy and metals company,” it revealed it is “implementing initiatives to simplify its structure, remove redundancies and drive cost efficiencies.” In light of this and in order to deliver on its strategy and generate maximum shareholder value, approximately 700 people will be laid off across Fortescue’s global operations.
