5 things to watch on the ASX 200 on Monday

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a disappointing fashion. The benchmark index fell 0.5% to 7,032.5 points.

Will the market be able to bounce back from this on Monday? Here are five things to watch:

ASX 200 expected to rebound

The Australian share market looks set to rebound on Monday following a very strong night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 39 points or 0.55% this morning. On Wall Street, the Dow Jones was up 1.3%, the S&P 500 climbed 1.7%, and the NASDAQ jumped 2.1%.

Oil prices fall

Energy producers Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could start the week in the red after oil prices tumbled on Friday. According to Bloomberg, the WTI crude oil price dropped 2.4% to US$92.09 a barrel and the Brent crude oil price fell 1.45% to US$98.15 a barrel. Oil prices came under pressure on speculation that US Gulf supply disruption will ease.

Westpac Q3 update

The Westpac Banking Corp (ASX: WBC) share price will be one to watch on Monday when the banking giant releases its third quarter update. The market is likely to be looking for an update on how Australia’s oldest bank’s cost cutting program is progressing and how its margins have fared since rates started to rise.

Gold price rises

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a decent start to the week after the gold price pushed higher on Friday night. According to CNBC, the spot gold price was up 0.45% to US$1,815.50 an ounce. The precious metal recorded its fourth straight weekly gain after the US dollar softened.

Bendigo and Adelaide Bank results

Westpac isn’t the only bank releasing an update today. Bendigo and Adelaide Bank Ltd (ASX: BEN) shares will be on watch when the regional bank releases its full year results. According to a note out of Goldman Sachs, its analysts expect the bank to report a cash profit of $502 million and pay a full year dividend of 123 cents per share.

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Should investors buy Bendigo Bank shares for dividends?
• Up 12% in 30 days, is the Westpac share price still a buy?
• Can Coles shares deliver 13% growth AND tasty dividends this year?
• Could this ASX 200 share be heading for a short squeeze?
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/w38TSbE