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5 things to watch on the ASX 200 on Thursday

James Mickleboro

On Wednesday the S&P/ASX 200 index managed to carve out the smallest of gains. The benchmark index pushed 4 points higher to 6,851.4 points.

Will the local share market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to slide. 

The S&P/ASX 200 index is poised to drop lower on Thursday. According to the latest SPI futures, the ASX 200 is expected to fall 0.25% or 16 points at the open. This is despite it being a positive night of trade on Wall Street. In late trade the Dow Jones is up 0.1%, the S&P 500 is trading 0.1% higher, and the Nasdaq index is up 0.25%.

Tech shares could outperform.

Australia’s leading tech shares such as Afterpay Ltd (ASX: APT) and Appen Ltd (ASX: APX) could outperform today after their US counterparts pushed higher. The technology-focused Nasdaq index was the strongest major index on Wall Street overnight with a 0.25% gain. Local tech shares have a habit of following the lead of their Nasdaq peers.

Oil prices mixed.

Energy shares including Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) will be on watch today after a mixed night of trade for oil prices. According to Bloomberg, the WTI crude oil price is down slightly to US$60.90 a barrel and the Brent crude oil price is up 0.2% to US$66.22 a barrel.

Gold price edges lower.

Gold miners Newcrest Mining Limited (ASX: SAR) and St Barbara Ltd (ASX: SBM) could be on the slide today after the gold price edged lower. According to CNBC, the spot gold price is down 0.1% to US$1,479.2 an ounce.

BHP and Rio Tinto on watch.

Mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) will be on watch today after a slight pullback in the iron ore price overnight. Their US-listed shares are down 0.9% and 0.5%, respectively, in late trade on Wall Street.

The post 5 things to watch on the ASX 200 on Thursday appeared first on Motley Fool Australia.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. The Motley Fool Australia owns shares of Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019