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5 things to watch on the ASX 200 on Monday

On Friday the S&P/ASX 200 index finished a very disappointing week on a positive note. The benchmark index climbed 0.4% to 6,517.1 points.

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

ASX 200 expected to rise.   

The Australian share market looks set to start the week on a high after a decent jobs report in the United States sent shares charging higher. According to the latest SPI futures, the ASX 200 is poised to climb 55 points or 0.85% at the open. On Wall Street the Dow Jones climbed 1.4%, the S&P 500 rose 1.4%, and the Nasdaq also stormed 1.4% higher.

Public holidays.

It is likely to be a quiet day on the markets on Monday with much of Australia enjoying Labour Day and Queen’s Birthday holidays. This could mean that trading volumes are much lower than normal, which can sometimes lead to exaggerated share price movements.

Oil prices rise.

Australian energy producers including Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) could start the week on a high on Monday after oil prices pushed higher. According to Bloomberg, the WTI crude oil price rose 0.7% to US$52.81 a barrel and the Brent crude oil price climbed 1.1% to US$58.37 a barrel.

Gold price slides.

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could start the week in the red after a positive U.S. jobs reading sent the gold price tumbling lower. According to CNBC, the spot gold price fell 0.25% to US$1,510.3 an ounce.

Strong auction results.

The housing market continues to improve with auction clearance rates remaining strong at the weekend. According to Corelogic, preliminary auction clearance rates in Sydney and Melbourne came in at 79.8% and 73.8%, respectively. This could give the REA Group Limited (ASX: REA) share price a boost this morning.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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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