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 tumbled 0.7% to 7,301.5 points.

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

ASX 200 expected to rise

The Australian share market looks set to rebound on Monday despite a mixed finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 19 points or 0.25% higher this morning. On Wall Street, the Dow Jones was up 0.1%, the S&P 500 was flat, and the NASDAQ dropped 0.2%.

Oil prices drop

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued start to the week after oil prices dropped on Friday night. According to Bloomberg, the WTI crude oil price was down 1.5% to US$79.98 a barrel and the Brent crude oil price fell 1.5% to US$85.57 a barrel. At the weekend, OPEC met and decided to maintain previously planned production cuts of 2 million barrels per day.

ASX 200 rebalance

S&P Dow Jones Indices has announced a single change to the S&P/ASX 200 index, effective prior to the open of trading on December 19, as a result of the December quarterly review. That change will see gold miner St Barbara Ltd (ASX: SBM) dumped from the index and engineering company Monadelphous Group Limited (ASX: MND) replace it. In other news, Pilbara Minerals Ltd (ASX: PLS) has been added to the illustrious ASX 50 index.

Metcash results

The Metcash Limited (ASX: MTS) share price will be on watch on Monday when the wholesale distributor releases its half year results. The market will be looking for sales growth in the region of 7.7%, which is in line with what was reported at its investor day event in October.

Gold price edges lower

Gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a soft start to the week after the gold price edged lower on Friday. According to CNBC, the spot gold price was down 0.3% to US$1,809.6 an ounce during the session. The gold price retreated from close to a four-month high following the release of US jobs data.

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

• What happened with the Woodside share price in November?
• Can the Pilbara Minerals share price regain its lustre in December?
• Here are the top 10 ASX 200 shares today
• Why Bigtincan, Bubs, St Barbara, and Warrego shares are charging higher
• Here are the 3 most heavily traded ASX 200 shares on Friday

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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Metcash. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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