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5 things to watch on the ASX 200 on Friday

James Mickleboro

On Thursday the S&P/ASX 200 index had a day to forget when U.S. recession fears led to the benchmark index dropping a disappointing 2.85% to 6,408.1 points.

Will the Australian share market be able to bounce back on Friday? Here are five things to watch:

ASX 200 poised to fall again.          

It looks set to be another disappointing day of trade for the Australian share market on Friday. According to the latest SPI futures, the ASX 200 index is expected to open the day 23 points or 0.3% lower this morning. On Wall Street the Dow Jones rose 0.4%, the S&P 500 index climbed 0.25%, and the Nasdaq edged 0.1% lower.

Oil prices slide lower.

Energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could come under pressure again on Friday after oil prices dropped lower. According to Bloomberg, the WTI crude oil price fell a further 1% to US$54.70 a barrel and the Brent crude oil price dropped 2% to US$58.30 a barrel.

Cochlear full year result.

All eyes will be on the Cochlear Limited (ASX: COH) share price today when it releases its full year results. Expectations are high for the hearing solutions company and, according to CommSec, the market consensus is for a net profit after tax of $269 million.

Gold price continues to climb.

It could be another positive day of trade for Newcrest Mining Limited (ASX: NCM), Northern Star Resources Ltd (ASX: NST), and the rest of the gold miners after the gold price pushed higher again. According to CNBC, the spot gold price climbed 0.4% to US$1,533.90 an ounce amid concerns over the U.S. economy and its trade war with China.

A Jumbo profit result expected.

The Jumbo Interactive Ltd (ASX: JIN) share price will be on watch on Friday when the lottery ticket seller releases its full year results. Jumbo’s shares have been on fire this year in anticipation of another blockbuster result thanks to a series of major jackpots and the growing shift to mobile and online lottery ticket buying. Morgans has forecast a record NPAT, up 116% on the prior corresponding period.

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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 Cochlear Ltd. and Jumbo Interactive Limited. The Motley Fool Australia has recommended Cochlear Ltd. and Jumbo Interactive Limited. 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