On Friday the S&P/ASX 200 index finished a difficult week on a positive note. The benchmark index rose 0.55% to 6,709.8 points.
Will the local market be able to build on this on Monday? Here are five things to watch:
ASX futures pointing higher.
The S&P/ASX 200 index looks set to open the week higher following a positive end to the week on Wall Street. According to the latest SPI futures, the S&P/ASX 200 index is expected to rise 12 points or 0.2% at the open. On Friday the Dow Jones rose 0.4%, the S&P 500 index climbed 0.2%, and the Nasdaq pushed 0.15% higher.
Afterpay AUSTRAC update.
The Afterpay Touch Group Ltd (ASX: APT) share price could be on the move if it releases the results and recommendations of its AML/CTF audit. The interim report was provided to AUSTRAC at the end of September and did not provide any recommendations. They were to be left to the final report which was due to be submitted by November 23.
Oil prices tumble.
Energy shares including Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices tumbled lower. According to Bloomberg, the WTI crude oil price fell 1.3% to US$57.77 a barrel and the Brent crude oil price dropped 0.9% to US$63.39 a barrel. Doubts over both an OPEC meeting and US-China trade talks weighed on prices.
Gold price flat.
Gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) are unlikely to make any wild movements on Monday after a subdued end to the week for the precious metal. According to CNBC, the spot gold price traded flat at US1,470.5 an ounce.
Westpac on watch.
The Westpac Banking Corp (ASX: WBC) share price will be on watch again on Monday after Treasurer Josh Frydenberg warned the bank that top executives and members of the board must be accountable. According to the AFR, over the weekend chairman Lindsay Maxsted suggested the bank’s chief executive, Brian Hartzer, could be sacked if the AUSTRAC scandal continues to destabilise its reputation.