On Friday the S&P/ASX 200 Index (ASX: XJO) finished the week on a high. The benchmark index climbed 0.5% to 5,391.1 points.

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

ASX 200 expected to edge higher.

The ASX 200 looks set to continue its positive form on Monday. Current SPI futures are pointing to a 3 point gain at the open. This follows a strong end to the week on Wall Street despite record U.S. job losses. On Friday the Dow Jones rose 1.9%, the S&P 500 climbed 1.7%, and the Nasdaq index pushed 1.6% higher.

Oil prices jump.

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices jumped higher on Friday night. According to Bloomberg, the WTI crude oil price rose 5% to US$24.74 a barrel and the Brent crude oil price jumped 5.15% to US$30.97 a barrel.

Gold price drops lower.

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could come under pressure today after the gold price tumbled lower. According to CNBC, the spot gold price fell 0.7% to US$1,713.90 an ounce after improving investor sentiment led to a switch to risk on assets.

Macquarie rated as neutral.

The Macquarie Group Ltd (ASX: MQG) share price could be close to peaking according to analysts at Goldman Sachs. Following the release of its full year results last week, the broker has retained its neutral rating and put a $127.32 price target on the investment bank’s shares. It notes that Macquarie has a strong balance sheet, but expects a lot of uncertainty in FY 2021.

GrainCorp on watch.

The Graincorp Ltd (ASX: GNC) share price will be on watch this morning after China threatened to slap an 80% import tax on Australian barley. China claims that the Australian government is subsidising farmers and allowing them to dump barley into China at cheaper prices than those offered by Chinese farmers.

Returns as of 7/4/2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group 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.

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