The S&P/ASX 200 index finished a fantastic week on a subdued note on Friday. It fell 0.35% to 6,793.4 points.
Will the local market rebound on Monday and make a push for its all-time high? Here are five things to watch:
ASX 200 set to open higher.
The Australian share market looks set to have a positive start to the week. According to the latest SPI futures, the ASX 200 index is poised to open the day 19 points or 0.3% higher this morning following a solid finish to the week on Wall Street. The Dow Jones climbed 0.2%, the S&P 500 rose 0.75%, and the Nasdaq stormed 1.1% higher following a series of strong earnings reports.
Tech shares could rise.
Australian tech stars including Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) could push higher this morning after the technology-focused Nasdaq index rose strongly. A number of positive earnings reports from the likes of Alphabet and Twitter helped drive the index to another record high.
Oil prices edge higher.
Santos Ltd (ASX: BPT), Woodside Petroleum Limited (ASX: WPL), and the rest of Australia's leading energy producers will be on watch after oil prices edged higher on Friday. According to Bloomberg, the WTI crude oil price rose 0.3% to US$56.20 a barrel and the Brent crude oil price climbed 0.1% to US$63.46 a barrel.
Lynas update.
The shares of rare earths producer Lynas Corporation Ltd (ASX: LYC) could be on the move today when its releases its latest quarterly update. As well as providing an update on its performance and prices, shareholders will no doubt be looking for positive news relating to the renewal of its license to run its rare earths processing plant in Malaysia.
Gold price on the rise.
Australian gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could make a move higher after the precious metal rose slightly on Friday. According to CNBC, the spot gold price climbed 0.25% to finish the week at US$1,418.50 an ounce. This week will be a big one for the gold miners due to the FOMC rates decision which is due on Thursday.
