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).
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia owns shares of Altium and Appen Ltd. The Motley Fool Australia has recommended InvoCare Limited and REA 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.