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5 things to watch on the ASX 200 on Monday

On Friday the S&P/ASX 200 index finished the week on a very positive note. The benchmark index surged 0.9% higher to 6,793.7 points.

Here’s what to watch on the market on Monday:

ASX futures pointing lower.

The S&P/ASX 200 index looks set to open the week slightly lower despite a strong end to the week on Wall Street. According to the latest SPI futures, the S&P/ASX 200 index is expected to slide 2 points lower at the open. On Friday the Dow Jones rose 0.8%, the S&P 500 index climbed 0.8%, and the Nasdaq pushed 0.7% higher.

ASX 200 record in sight.

If the benchmark index can get its act together on Monday, it could hit an all-time high later today. The S&P/ASX 200 index finished the week just 53 points away from its record high of 6,846 points.

Oil prices surge higher.

Energy shares such as Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices surged higher. According to Bloomberg, the WTI crude oil price climbed 1.7% to US$57.72 a barrel and the Brent crude oil price jumped 1.6% to US$63.30 a barrel.

Gold price sinks.

Trade deal optimism weighed on the gold price on Friday and could mean the likes of Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) trade lower this morning. According to CNBC, the spot gold price fell 0.3% to US$1,468.5 an ounce.

Shares going ex-dividend.

A couple more shares are due to go ex-dividend this morning and are likely to trade lower. Both power network owner Ausnet Services Ltd (ASX: AST) and agribusiness company Elders Ltd (ASX: ELD) will trade without the rights to their latest dividend today. AusNet will be paying a 5.1 cents per share partially franked dividend on December 19 and Elders is scheduled to pay its 9 cents per share fully franked dividend on December 13.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Elders 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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