On Friday the S&P/ASX 200 index ended the week with a disappointing decline. The benchmark index fell 0.5% to 6,649.7 points.
Will the local share market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to drop.
It looks set to be a soft start to the week for the S&P/ASX 200 index. This follows a disappointing end on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is poised to fall 0.2% or 14 points at the open. On Wall Street the Dow Jones fell 0.95%, the S&P 500 dropped 0.4%, and the Nasdaq tumbled 0.8% lower.
Oil prices slide.
Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could come under pressure this morning after oil prices dropped lower on Friday night. According to Bloomberg, the WTI crude oil price fell 0.3% to US$53.78 a barrel and the Brent crude oil price dropped 0.8% to US$59.42 a barrel. Weak Chinese economic data weighed on oil prices.
Gold price lower.
The likes of Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch today after the spot gold price edged lower at the end of the week. According to CNBC, the spot gold price dropped 0.3% to US$1,494.1 an ounce.
WiseTech Global returns.
The WiseTech Global Ltd (ASX: WTC) share price looks set to crash lower again on Monday when it returns from its trading halt following a short seller attack. Although the logistics solutions company provided a comprehensive response to the report, investors appear to be panic selling.
CYBG on watch
The CYBG PLC (ASX: CYB) share price was the best performer on the ASX 200 index last week. But its shares look set to come under pressure on Monday amid Brexit concerns. At the weekend MPs voted to ask for a delay for Brexit, but prime minister Boris Johnson refused to sign a letter requesting it. This could mean the UK crashes out of the EU next week without a deal.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.