On Thursday the S&P/ASX 200 Index (ASX: XJO) ended its winning streak with a disappointing decline. The benchmark index fell 0.7% to 6,120 points.
Will the market be able to bounce back from this on Friday? Here are five things to watch:
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ASX 200 expected to push higher.
It looks set to be a positive end to the week for the benchmark ASX 200. According to the latest SPI futures, the benchmark index is poised to open the day 12 points or 0.20% higher this morning. This follows a strong night of trade on Wall Street which saw the Dow Jones rise 0.3%, the S&P 500 climb 0.3%, and the Nasdaq storm 1.1% higher.
TPG half year results.
The TPG Telecom Ltd (ASX: TPG) share price will be on watch today when it hands in its half year results. According to a note out of Goldman Sachs, it is forecasting first half EBITDA to decline -7% to $897 million. This is largely due to weakness in the consumer business. The broker is also looking out for commentary on COVID-19 impacts and mobile pricing.
Oil prices tumble.
It could be a difficult day for energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oversupply concerns weighed on oil prices. According to Bloomberg, the WTI crude oil price is down 0.7% to US$42.62 a barrel and the Brent crude oil price is down 1% to US$44.90 a barrel.
Suncorp FY 2020 results.
The Suncorp Group Ltd (ASX: SUN) share price will be in focus today when the insurance and banking giant releases its full year results. According to CommSec, the market is expecting Suncorp to deliver a full year net profit after tax of $696.75 million. Investors may also want to keep an eye out for commentary around COVID-19 impacts on loans and insurance claims.
Gold price steadies.
Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) will be on watch after a mixed night of trade for the gold price. According to CNBC, the spot gold price is fetching US$1,955.20 an ounce. This is up slightly from 24 hours ago, but down sharply over the last few days.
