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.
