On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a disappointing note. The benchmark index fell 0.75% to 7,433.7 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 futures flat
The Australian share market looks set to have a subdued session on Monday following a mixed finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day flat this morning. On Wall Street, the Dow Jones was up 0.5% and the S&P 500 rose 0.2%, but the NASDAQ dropped 0.6%.
Oil prices charge higher
ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good start to the week after oil prices charged higher on Friday. According to Bloomberg, the WTI crude oil price was up 2.2% to US$79.76 a barrel and the Brent crude oil price rose 2.4% to US$86.52 a barrel. Traders were bidding oil prices higher after Russia announced plans to cut its production.
Endeavour results
The Endeavour Group Ltd (ASX: EDV) share price will be one to watch on Monday when the drinks giant releases its half year results. Analysts at Goldman Sachs have tipped Endeavour to surprise to the upside with its result. It commented: âIndustry feedback from peers and favorable weather suggests that trading in 1H23 is likely to offer positive surprise vs. consensus.â Goldman expects sales of $6,509 million and underlying NPAT of $346 million.
IAG results
The Insurance Australia Group Ltd (ASX: IAG) share price will also be in focus today for the same reason. This insurance giant is scheduled to release its half year results this morning and, according to CommSec, the market is expecting IAG to report a net profit of $420.5 million and an interim dividend of 9.8 cents per share.
Gold price softens
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price softened on Friday. According to CNBC, the spot gold price edged 0.1% lower to $1,876.40 per ounce. Traders appears nervous ahead of a key US inflation reading next week.
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
- ASX 200 shares: How to invest $10,000 to get $910 per year in passive income
- Here are the top 10 ASX 200 shares today
- Why Appen, Endeavour, Imugene, and Treasury Wine shares are pushing higher
- 5 things to watch on the ASX 200 on Friday
- Expect big yields from these ASX 200 dividend shares in 2023: analysts
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 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 Scott Phillips.
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