5 things to watch on the ASX 200 on Friday

Apr 04,2024
5 things to watch on the ASX 200 on Friday

On Thursday, the S&P/ASX 200 Index (ASX: XJO) returned to form after a selloff on Wednesday. The benchmark index rose 0.45% to 7,817.3 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

The Australian share market looks set to end the week deep in the red following another poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 50 points or 0.65% lower this morning. In late trade on Wall Street, the Dow Jones is down 1.25%, the S&P 500 is down 1%, and the NASDAQ is down 1.1%. Nervous investors were selling down stocks ahead of the US jobs report.

ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a good finish to the week after oil prices rose again overnight. According to Bloomberg, the WTI crude oil price is up 1.45% to US$86.66 a barrel and the Brent crude oil price is up 1.6% to US$90.81 a barrel. Oil prices rose amid reports that Israeli embassies have been put on high alert after Iran vowed to retaliate over a missile strike on its consulate in Damascus this week.

It looks set to be a tough session for BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) shares on Friday after iron ore prices weakened again. The spot price of the benchmark 62% fines iron ore is down 1.5% to US$98.00 a tonne. This led to both mining giants' NYSE listed shares dropping almost 2% during last night's session.

ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price edged lower overnight. According to CNBC, the spot gold price is down slightly to US$2,314.5 an ounce. Traders appear to have been locking in gains after the precious metal reached a record high.

A number of ASX 200 shares will be rewarding their shareholders with their latest dividend payments today. Among the companies making dividend payments are airport operator Auckland International Airport Limited (ASX: AIA), corporate travel specialist Corporate Travel Management Ltd (ASX: CTD), gold miners Evolution Mining and Perseus Mining Ltd (ASX: PRU), hospital operator Ramsay Health Care Ltd (ASX: RHC). The latter is paying its shareholders a 40 cents per share fully franked dividend.