Wednesday the S & P / ASX 200 index was back in shape and rose 0.5% to 6,673.3 points.
Will the market be able to build on this Thursday? Here are five things to look at:
ASX ready to go lower.
The Australian stock market looks set to return some of yesterday's earnings after US earnings were disappointed. According to the latest SPI futures, the ASX 200 index is ready to open 0.2% or 12 points less this morning. On Wall Street the Dow Jones fell 0.4%, the S&P 500 index fell 0.65% and the Nasdaq fell 0.45%.
Today is the turn of BHP Group Ltd (ASX: BHP) spin off South32 Ltd (ASX: S32) to release its last quarterly update. With the shares of the diversified mining giant touching a minimum of 52 weeks of $ 3.00, expectations are very low.
Oil prices are sinking.
Energy producers like Santos Ltd (ASX: STO) e Woodside Petroleum Limited (ASX: WPL) could come back under pressure Thursday after oil prices continued to slide. Second Bloomberg, the price of WTI crude oil fell 1.8% to USD 56.56 a barrel and the price of Brent crude fell 1.3% to USD 63.51 a barrel. A sharp increase in US oil stocks weighed on oil prices from day to day.
Waves of the price of gold.
Gold miners included Newcrest Mining Limited (ASX: NCM) e Northern Star Resources Ltd (ASX: NST) may be on the rise this morning after the price of gold rose higher during the night. According to CNBC, the gold spot price rose 1.2% to $ 1,428.20 per ounce. This seems to have been driven by comments from hedge fund chief Ray Dalio. He revealed that he sees a case to buy gold as central banks become more aggressive with policies that depreciate currencies.
The CIMIC Group Ltd (ASX: CIM) The price of the stock will go on sale today after the release of the half-year results after the market close on Wednesday. CIMIC generated an increase of 1% of profits to $ 367 million and confirmed its guidance for the entire year of $ 790 million to $ 840 million. This did not match Goldman Sachs' estimate of a 9% increase in underlying net income after tax to $ 396 million.
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Motley Fool collaborator James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all have the same opinions, but we are all convinced that, considering a wide range of insights, we have become better investors. The Motley Fool has a disclosure policy. This article contains only general investment recommendations (with AFSL 400691). Authorized by Scott Phillips.
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