On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped into the red. The benchmark index fell 0.3% to 7,235.9 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
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ASX 200 expected to fall
The Australian share market looks set to fall again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 26 points or 0.35% lower this morning. This follows a mixed night on Wall Street, which in late trade sees the Dow Jones up 0.1%, the S&P 500 up 0.3%, and the Nasdaq down 0.2%. US markets were up materially until a case of Omicron was confirmed in the US.
Oil prices edge lower
Energy shares including Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could have a subdued day after oil prices edged lower overnight. According to Bloomberg, the WTI crude oil price is down 0.4% to US$65.90 a barrel and the Brent crude oil price has fallen 0.25% to US$69.06 a barrel. Concerns over a looming supply glut weighed on prices.
Cleanaway ACCC delays
The Cleanaway Waste Management Ltd (ASX: CWY) share price will be on watch today after it revealed that the ACCC has deferred its decision date for the clearance of the company's acquisition of a portfolio of strategic post-collection assets in Sydney from Suez. However, management remains confident the deal will be approved despite the delay.
Gold price rises
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.4% to US$1,783 an ounce. The gold price rose due to increased demand for safe haven assets amid omicron-induced volatility.
Premier Investments' annual general meeting
Premier Investments Limited (ASX: PMV) shares will be in focus on Thursday. The retail conglomerate is holding its annual general meeting later today and could provide investors with an update on the performance of its brands so far in FY 2022.
