On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a poor session and dropped into the red. The benchmark index fell 0.3% to 7,987.9 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
It looks set to be a better session for Aussie investors on Thursday following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 32 points or 0.4% higher this morning. In the United States, the Dow Jones was up 0.3%, the S&P 500 rose 1.1%, and the Nasdaq jumped 2.2%.
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a better session after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 2.2% to US$67.19 a barrel and the Brent crude oil price is up 1.95% to US$70.54 a barrel. Traders appear to believe that oil prices were oversold this week.
BHP Group Ltd (ASX: BHP) shares are going ex-dividend on Thursday and could trade lower. Last month, the Big Australian released its full year results and declared a final dividend of 74 US cents per share. This is the equivalent of A$1.09 per share in local currency, which represents a 2.8% dividend yield based on its last close price. This will be paid to eligible shareholders at the start of next month on 3 October.
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.1% to US$2,541.4 an ounce. This follows the release of inflation data in the United States that wasn't overly supportive of a supersized interest rate cut.
REA Group Ltd (ASX: REA) shares are good value according to analysts at Goldman Sachs. In response to news that the property listings company has had an $11 billion takeover offer for Rightmove (LSE: RMV) rejected, the broker has reaffirmed its buy rating and $221.00 price target on the realestate.com.au operator's shares. Goldman advised that it continues to believe that REA Group "has one of the best risk/reward profiles in our domestic media coverage."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.