On Thursday, the S&P/ASX 200 Index (ASX: XJO) had one of its best days of the year, surging higher. The benchmark index rose by 1.2% to 7,831.8 points.
Will the market be able to build on this momentum on Friday and end the week on a high note? Here are five things to watch:
- ASX 200 to Edge Lower: Despite a positive session in Europe, the Australian share market looks set to end the week on a subdued note. According to the latest SPI futures, the ASX 200 is expected to open 7 points or 0.1% lower this morning. Wall Street was closed for Independence Day, but the FTSE rose 0.85%, and the DAX climbed 0.4%.
- Oil Prices Rise: ASX 200 energy shares, including Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR), could have a strong finish to the week after oil prices increased again overnight. According to Bloomberg, the WTI crude oil price is up 0.2% to US$84.06 a barrel, and the Brent crude oil price is up 0.25% to US$87.55 a barrel. Optimism around summer fuel demand has boosted oil prices this week.
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