On Friday, the S&P/ASX 200 Index (ASX: XJO) finished a very difficult week with a small daily gain. The benchmark index rose 0.1% to 6,997.8 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to surge higher
The Australian share market looks set to start the week on a very positive note following a strong finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day a massive 166 points or 2.4% higher this morning. On Wall Street, the Dow Jones jumped 2.5%, the S&P 500 climbed 2.25%, and the Nasdaq rose 1.6%.
Oil prices pull back
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a tough start to the week after oil prices pulled back. According to Bloomberg, the WTI crude oil price fell 1.3% to US$91.59 a barrel and the Brent crude oil price dropped 1.2% to US$97.93 a barrel. Traders appear to have been taking a bit of profit off the table following strong gains during the week.
Zip half year results
The Zip Co Ltd (ASX: Z1P) share price will be on watch today when it releases its half year results. While its financials have largely been pre-released, there has been speculation that the buy now pay later (BNPL) provider could announce a capital raising with its results this morning.
Gold price drops
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price tumbled lower on Friday night. According to CNBC, the spot gold price fell 2% to US$1,887.60 an ounce. The safe haven asset dropped after investors flooded back into risk assets.
Bank of Queensland half year results
The Bank of Queensland Limited (ASX: BOQ) share price could be one to watch when it releases its half year results. According to CommSec, the market consensus estimate is for a net profit after tax of $202.6 million for the first half. The market is also expecting the regional bank to declare an interim dividend of 24.3 cents per share.
The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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