On Wednesday the
S&P/ASX 200 Index (ASX: XJO) was out of form again and recorded a sizeable decline. The benchmark index fell 0.7% to 7,044.9 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to tumble lower again on Thursday following a selloff on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.5% lower. In the United States, the Dow Jones fell 2%, the S&P 500 dropped 2.15%, and the Nasdaq sank 2.7%. A strong inflation reading spooked investors.
Evolution (ASX:EVN) share price treads lower on acquisition update
Evolution (ASX:EVN) share price treads lower on acquisition update
The Evolution Mining Ltd (ASX: EVN) share price is backtracking during market open. We take a closer look at what the company announced.
Aaron Teboneras has been a Motley Fool contributor since early August 2020. After graduating from RMIT University with a Business degree, Aaron spent most of his years either travelling or working in various industries. Aaron’s most notable appointments include National Australia Bank, and Computershare where he discovered his passion for the Australian sharemarket. Outside of researching and writing for Motley Fool, Aaron enjoys trekking on adventures across the world and learning new life skills.
On Tuesday the
S&P/ASX 200 Index (ASX: XJO) was a very poor performer and sank lower. The benchmark index fell 1.05% to 7,097 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
ASX 200 expected to fall
It looks set to be another difficult day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 39 points or 0.55% lower this morning. This follows a poor night of trade on Wall Street which saw the Dow Jones fall 1.35%, the S&P 500 fall 0.9% and the Nasdaq drop 0.1%. The latter was down as much as 3.5% at one stage before rebounding.
Resolute Mining Limited (ASX: RSG) will be on watch after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.55% to US$1,785.90 an ounce. The gold price rose after the US dollar pulled back.
ANZ rated as a buy
The
Australia and New Zealand Banking GrpLtd(ASX: ANZ) share price could be good value according to analysts at Goldman Sachs. This morning the broker responded to its half year results by putting a buy rating and $30.20 price target on its shares. Goldman is also forecasting a 5% dividend yield in FY 2021.
Wondering where you should invest $1,000 right now?
Struggling ASX gold shares just got upgraded by a top broker
Brendon Lau | May 4, 2021 5:01pm |
More on: Image source: Getty Images
ASX gold shares have been lagging the market and their quarterly updates have been an overall disappointment – but now’s precisely the time to be buying these shares.
That’s the view of JPMorgan even though the broker found the latest quarterly production reports “underwhelming”.
The broker isn’t the only one that’s been unimpressed. The market has largely cast aside our major ASX gold producers.
ASX gold shares have lost their shine
The
Evolution Mining Ltd(ASX: EVN) share price and