On Thursday the S&P/ASX 200 index continued its positive run and climbed higher for the third day in a row. The benchmark index rose 0.4% to 6,383 points.
Will the market be able to build on this on Friday and finish the week on a high? Here are five things to watch:
ASX 200 poised to push higher.
The Australian share market looks set to end the week on a positive note after easing trade tensions between the U.S. and Mexico sent shares hurtling higher on Wall Street. According to the latest SPI futures, the ASX 200 index is expected to open the day 38 points or 0.55% higher this morning. On Wall Street the Dow Jones rose 0.7%, the S&P 500 climbed 0.6%, and the Nasdaq pushed 0.5% higher. .
Oil prices rebound.
Shareholders of energy producers such as Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) will be relieved to learn that oil prices rebounded overnight due to easing trade tensions. According to Bloomberg, the WTI crude oil price stormed 3% higher to US$53.21 a barrel and the Brent crude oil price pushed 2.8% higher to US$62.31 a barrel.
Afterpay shares on watch.
The Afterpay Touch Group Ltd (ASX: APT) share price will be on watch on Friday after brokers had time to look through its latest business update and adjust their discounted cash flow models. Although the payments company’s underlying sales fell short of Goldman Sachs’ expectations, it has held firm with its buy rating and $27.10 price target.
Gold price higher again.
Australian gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could finish the week on a positive note after the gold price climbed higher again. Speculation that the U.S. Federal Reserve will cut interest rates has increased demand for the precious metal. According to CNBC, the spot gold price rose 0.35% to US$1,338.10 an ounce.
BHP and Rio Tinto set to climb higher.
The BHP Group Ltd (ASX: BHP) share price and the Rio Tinto Limited (ASX: RIO) share price look set to bounce back from their declines on Thursday after base metal prices such as copper and iron ore climbed higher overnight.
The war on cash is here.
The $700 billion “war on cash” is on… and even The New York Times is calling it “a goldmine of staggering proportions”…That’s why The Motley Fool has just released a brand-new research report: “Leave Your Wallet at Home: 2 Stocks for the Digital Payments Revolution.” Inside, you’ll find 2 expert-picked ASX shares poised to profit from this sweeping tech revolution.
Heck, stock #1 is already up 204% in just the last two years. While Stock #2 has climbed an eye-watering 954% since 2015 alone…
Yet we’re convinced the sheer biggest returns could be still ahead, with 10X or more potential profits still on the table. Simply click the link below now and we’ll show you how to snap up this timely (and potentially highly profitable) new research for FREE.
Click here to snap up your copy of “Leave Your Wallet at Home: 2 Stocks for the Digital Payments Revolution.”
- NEW: Free report names top 3 ASX dividend shares to buy for 2019
- Top analysts name their top 3 ASX blue chip shares for 2019
- Richest man alive issues dire warning
- 3 quality dividend shares to boost your income
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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