On Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) finished the week on a positive note with a 0.4% rise to 6,192.7 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX futures pointing higher.
According to the latest SPI futures, the ASX 200 is expected to open the day higher on Monday. Current futures contracts are pointing to a 0.3% or 18 points gain at the open. This follows a positive end to the week on Wall Street which saw the Dow Jones rise 0.4%, the S&P 500 up 0.7%, and the Nasdaq push 0.8% higher.
Tech shares could rise.
The shares of Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) could be set for a positive day of trade after their U.S. counterparts finished the week on a high on Wall Street. The Nasdaq closed the day 0.8% higher after strong gains were made by many of the FAANG shares.
Oil prices sink lower.
Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) shares will be on watch this morning after oil prices sank lower on Friday. According to Bloomberg, the WTI Crude oil price fell 2.5% to US$55.80 a barrel and the Brent crude oil price dropped 1.9% to US$65.07 a barrel. The catalyst for the selling was weak U.S. manufacturing data which raised concerns over global energy demand growth.
Gold price tumbles.
Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) shares could come under pressure on Monday after the gold price tumbled lower on Friday. According to CNBC, a recovery in the U.S. dollar and global share market advances put pressure on the safe haven asset. The spot gold price closed the day 1.6% lower at US$1,294.50 an ounce. This was the first time the precious metal has traded below the key US$1,300 level since January 28.
Shares going ex-dividend.
A number of popular shares are trading ex-dividend this morning and are likely to drop into the red. This includes health supplements company Blackmores Limited (ASX: BKL), private hospital operator Healthscope Ltd (ASX: HSO), funerals company InvoCare Limited (ASX: IVC), airline operator Qantas Airways Limited (ASX: QAN), and property listings company REA Group Limited (ASX: REA).
