On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a decline. The benchmark index fell 0.4% to 6,539.9 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to jump
The Australian share market looks set to start the week on a very positive note after a strong finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 96 points or 1.5% higher this morning. On Wall Street, the Dow Jones was up 1.05%, the S&P 500 rose 1.05%, and the Nasdaq climbed 0.9%.
Oil prices rise
Energy producers Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good start to the week after oil prices rose strongly on Friday. According to Bloomberg, the WTI crude oil price climbed 2.5% to US$108.43 a barrel and the Brent crude oil price climbed 2.4% to US$111.83 a barrel. Supply outages in Libya and expected shutdowns in Norway boosted prices.
Good day expected for tech sector
It could be a good day of trade for the Block Inc (ASX: SQ2) share price and other tech shares on Monday. This follows a positive night of trade for the tech-focused Nasdaq index on Friday. Over on the NYSE, the Block share price rebounded from recent selling and rose a sizeable 4%.
Iron ore price falls
BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares will be in focus today after a pullback in the iron ore price. According to Metal Bulletin, the benchmark iron ore price dropped 4.3% to US$113.90 a tonne. This led to the NYSE listed BHP share price falling almost 4% on Friday night.
Gold price edges lower
Gold miners 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 night. According to CNBC, the spot gold price was down 0.3% to US$1,801.5 an ounce. This led to gold recording another small weekly decline.
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
- The Xero share price lost 14% last month. Here’s the tea
- Should investors dig the Fortescue share price in July?
- Why did the Santos share price plunge 10% in June?
- What on earth happened to ASX 200 tech shares in June?
- Here are the top 10 ASX shares today
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 positions in and has recommended Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. 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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