On Friday the S&P/ASX 200 Index (ASX: XJO) finished a very positive week with a small gain. The benchmark index edged 0.1% higher to 5,942.6 points.
Will the market be able to build on this on Monday? Here are five things to watch
ASX 200 set to fall heavily.
The ASX 200 looks set to fall heavily on Monday after a mixed finish to the week in the United States. According to the latest SPI futures, the benchmark index is expected to open the week 78 points or 1.3% lower this morning. On Wall Street on Friday the Dow Jones fell 0.8%, the S&P 500 dropped 0.55%, and the Nasdaq index traded flat.
Oil prices higher.
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after a strong end to the week for oil prices. According to Bloomberg, the WTI crude oil price jumped 2.3% to US$39.75 a barrel and the Brent crude oil price rose 1.65% to US$42.19 a barrel. Oil prices have now posted seven weekly gains out of eight.
Gold price jumps.
Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a positive day after the gold price jumped higher on Friday. According to CNBC, the spot gold price stormed 1.3% higher to US$1,753.00 an ounce. Coronavirus concerns sent traders to the safe haven asset on Friday.
Metcash results.
The Metcash Limited (ASX: MTS) share price will be on watch when it releases its full year results this morning. According to a note out of Goldman Sachs, it expects the wholesale distributor to post revenue of $13 billion and earnings before interest and tax of $326 million. This will be a 3% and 4.6% increase, respectively, on FY 2019’s result.
Jumbo Interactive to return.
The Jumbo Interactive Ltd (ASX: JIN) share price is scheduled to finally return from its trading halt this morning. The online lottery ticket seller requested the halt on Monday of last week while it prepared an announcement relating to the Western Australia lottery market. Last year the state government suggested it might privatise its wagering.
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More reading
- Chance of oil surging to US$190 is higher now than before COVID-19: JPMorgan
- 3 long-term ASX 200 shares I’d buy right now
- Top brokers name 3 ASX 200 shares to sell next week
- Top brokers name 3 ASX 200 shares to buy next week
- Why the ultra-rich are hoarding gold
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post 5 things to watch on the ASX 200 on Monday appeared first on Motley Fool Australia.
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