5 things to watch on the ASX 200 on Monday

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished a solid week on a positive note. The benchmark index rose 0.65% to 6,894.2 points.

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

ASX 200 expected to rise

The Australian share market looks set to start the week in a positive fashion. This follows a very strong end to the week on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 79 points or 1.15% higher this morning. On Wall Street, the Dow Jones was up 1.2%, the S&P 500 climbed 1.5%, and the NASDAQ jumped 2.1%.

Oil prices charge higher

Energy producers 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 3.9% to US$86.79 a barrel and the Brent crude oil price rose 4.1% to US$92.84 a barrel. Traders were buying oil amid concerns over supply threats

Tech shares expected to rise

Tech shares such as Life360 Inc (ASX: 360) and Zip Co Ltd (ASX: ZIP) could start the week strongly after their US counterparts stormed higher on Friday night. As mentioned above, Wall Street’s tech focused NASDAQ index was in fine form, rising a sizeable 2.1% after investors sentiment rebounded. This bodes well for the local tech sector on Monday.

Gold price rises

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a positive start to the week on Monday after the gold price rose. According to CNBC, the spot gold price was up 0.4% to US$1,727.6 an ounce on Friday night. A softening US dollar gave the precious metal a boost.

Iron ore price continues to rebound

BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares could start the week with a bang after the iron ore price continued to rebound amid optimism over Chinese demand. According to Metal Bulletin, the spot iron ore price has risen 3.9% to US$103.65 a tonne.

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

• Why did ASX 200 iron ore shares have such a strong end to the week?
• Here are the top 10 ASX 200 shares today
• Why A2 Milk, Life360, Nine, and Ramsay shares are dropping
• Why is the Newcrest share price beating the ASX 200 on Friday?
• Here’s why the ASX 200 could be set up for an almighty rally before the end of this horrible year for stocks

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. and ZIPCOLTD FPO. 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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