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5 things to watch on the ASX 200 on Monday

On Friday the S&P/ASX 200 Index (ASX: XJO) rebounded from an 8% decline in morning trade to finish the day with an incredible 4.4% gain to 5,539.3 points.

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

ASX 200 expected to fall.    

The ASX 200 looks set to push higher again on Monday. According to the latest SPI futures, the benchmark index is expected to open the week 54 points or 1% higher. This follows an incredibly strong finish to the week on Wall Street on Friday night. The Dow Jones jumped 9.4% higher, the S&P 500 index raced 9.3% higher, and the Nasdaq index stormed 9.4% higher.

Oil prices higher.

Energy producers including Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be on the rise on Monday after oil prices pushed higher on Friday night. According to Bloomberg, the WTI crude oil price climbed 0.7% to US$31.73 a barrel and the Brent crude oil pushed 1.9% higher to US$33.65 a barrel. Oil prices rebounded higher after President Trump announced that the US would purchase oil for its strategic reserves.

Gold price crashes lower.

It could be a bad start to the week for gold miners including Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM). According to CNBC, the spot gold price crashed 4.6% lower on Friday to US$1,516.70 an ounce. The gold price came under pressure after equities rebounded strongly.

Cochlear rated as a sell.

The Cochlear Limited (ASX: COH) share price has been tipped to tumble lower by Goldman Sachs. It believes declines in elective surgeries globally because of the coronavirus outbreak could lead to more material guidance revisions. The broker has downgraded its FY 2020 earnings estimate to $246 million. This compares to Cochlear’s guidance of $270 million to $290 million. Goldman has a sell rating and $197.00 price target on its shares.

Shares going ex-dividend.

A number of popular shares are due to go ex-dividend this morning and could trade lower. This includes shipbuilder Austal Limited (ASX: ASB) and New Zealand telco company Chorus Ltd (ASX: CNU). They will be paying their dividends to shareholders on April 17 and April 14, respectively.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Austal Limited and Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. 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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