ASX 200 on Friday: Top 5 things to watch out

Summary

  • The Australian stock market may open higher by 0.65% on Friday.
  • On Thursday, the domestic equity benchmark declined 0.9% to 6,982.7 points.
  • On the Wall Street, the Dow Jones rose 1.3%, the S&P 500 climbed 1.2%, and the NASDAQ surged 0.7%.

The Australian share market is expected to close the week on a strong note, tracking positive cues from the US market, which closed higher overnight as fears around rising inflation eased.  

According to the latest SPI Futures, the ASX 200 may open higher by 0.65% at the open on Friday. On Thursday, the domestic equity benchmark declined 0.9% to 6,982.7 points.

Top 5 things ASX investors must know today:

Source: ©Djbobus   | Megapixl.com

Oil prices decline

The major energy stocks such as Santos Ltd (ASX:STO) and Woodside Petroleum Ltd (ASX:WPL) could end the week in red after crude oil prices declined overnight on concerns over rising coronavirus cases in India and resumption of the US gasoline pipeline.  While the WTI crude oil price was down 3.5% to US$63.76 a barrel, the Brent crude oil price was down 3.4% to US$66.97 a barrel.

READ MORE: Five ASX stocks that may safeguard portfolio amid rising inflation

Gold prices soar

The rise in gold prices may boost prices of gold stocks such as Newcrest Mining Ltd (ASX:NCM) and St Barbara Ltd (ASX:SBM). The spot gold prices rose by 0.25% to US$1,827.30 an ounce. The yellow metal received a boost from softening treasury yields. The yield on the US 10-year bond eased to 1.66%.

READ MORE: Three ASX shares that are trading at a bargain

Carsales shares may return from trading halt

Carsales.com Ltd (ASX:CAR) shares may start to trade again on the ASX today after the trading halt. The company had requested the stock exchange for a trading halt to raise funds for 49% stake acquisition in the US-based Interactive for nearly AU$800 million.

Source: © Paultama   | Megapixl.com

READ MORE: Why is Clean Energy Council not pleased with federal budget?

Agricultural commodities data

The numbers on the production of agricultural commodities such as cereal, broadacre crops, fruits and vegetables for the reference period 2019-20 financial year will be released later today by the Australian Bureau of Statistics.  The provision data on international travel based on initial border crossings, arrivals, and departures from Australia, including tourism trips for reference period March 2021 will also be out.

READ MORE: Is 2021 going to be a sparkling year for aluminium?

US retail sales data

Meanwhile, the US retail sales data for the month of April will be out on Friday. The economists expect the retail sales to gain by 1%. Notably, the month of March had seen retail sales advancing by 9.7%.  The number on industrial production and the University of Michigan consumer sentiment will also be released today.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK