The S&P/ASX 200 Index (ASX: XJO) was back on form on Thursday. The benchmark index rebounded from Wednesday's sell off and recorded a gain of 0.5% to 5,908.5 points.
Will the market be able to build on this on Friday? Here are five things to watch:
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ASX 200 poised to slide lower.
The ASX 200 looks set to end the week on a disappointing note. According to the latest SPI futures, the benchmark index is expected to slide 78 points or 1.3% lower at the open. This follows a poor night of trade on Wall Street which saw the Dow Jones fall 1.45%, the S&P 500 drop 1.75%, and the Nasdaq tumble 2% lower.
Oil prices drop lower.
Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could end the week in the red after oil prices dropped lower. According to Bloomberg, the WTI crude oil price is down 2.6% to US$37.07 a barrel and the Brent crude oil price has fallen 2.4% to US$39.83 a barrel. Traders were selling oil after inventories started to build again.
Nearmap downgraded.
The Nearmap Ltd (ASX: NEA) share price is fully valued according to analysts at Goldman Sachs. This morning the broker downgraded the company's shares to a neutral rating with a $2.95 price target. Goldman made the move following the announcement of its capital raising and a sharp rise in the Nearmap share price over the last few months.
Gold price softens.
Gold miners Newcrest Mining Ltd (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price edged lower. According to CNBC, the spot gold price is down slightly to US$1,953.90 an ounce. The precious metal started the day strongly but gave back its gains late in the last session.
Cleanaway goes ex-dividend.
The Cleanaway Waste Management Ltd (ASX: CWY) share price is going ex-dividend this morning and could trade that extra bit lower. The waste management company's shareholders can now look forward to being paid this dividend on 6 October. Elsewhere, shareholders of Bapcor Ltd (ASX: BAP) and JB Hi-Fi Limited (ASX: JBH) will be getting paid their dividends later today.
