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5 things to watch on the ASX 200 on Monday

On Friday the S&P/ASX 200 index had a disappointing finish to the week, falling 0.7% to 6,618.8 points.

Will the market be able to bounce bank on Monday? Here are five things to watch:

ASX futures pointing higher.

The Australian share market looks set to start the week on a positive note after talks between the US and China at the G-20 went well. According to the latest SPI futures, the ASX 200 is poised to open the week 18 points or 0.3% higher this morning. Over on Wall Street on Friday the Dow Jones rose 0.3%, the S&P 500 climbed 0.6%, and the Nasdaq pushed 0.5% higher.       

Afterpay shares on watch.

The Afterpay Touch Group Ltd (ASX: APT) share price will be on watch this morning after a late selloff on Friday caused by an announcement out of Visa. The payments giant has announced the start of a pilot program that will allow participating issuers and merchants to offer their customers an instalment payment option at the checkout by using a Visa card.

Oil prices lower.

Energy producers including Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) are likely to start the week in the red after oil prices sank lower on Friday. According to Bloomberg, the WTI crude oil price dropped 1.6% to US$58.47 a barrel and the Brent crude oil price fell 1.4% to US$64.74 a barrel. Easing US-Iran tensions put pressure on oil prices.

Gold price edges higher.

Newcrest Mining Limited (ASX: NCM) and Saracen Mineral Holdings Limited (ASX: SAR) shares will be on watch after the gold price edged higher on Friday. According to CNBC, the spot gold price rose slightly to US$1,412.50 an ounce. However, this could be offset by improving investor sentiment following the US-China G-20 meeting.

News Corp given conviction buy rating.

The News Corp. (ASX: NWS) share price could be on the rise today after Goldman Sachs put the media company’s shares onto its conviction buy list with a price target of $23.90. According to the note, the broker believes the market is not adequately reflecting the full value of its stakes in REA Group (ASX: REA) and Move Inc.

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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 AFTERPAY T FPO. The Motley Fool Australia has recommended 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.

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