On Friday the S&P/ASX 200 Index (ASX: XJO) finished the week on a very positive note. The benchmark index climbed 1.4% to 5,404.8 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to push higher.
The ASX 200 looks set to continue its positive form on Monday. According to the latest SPI futures, the index is expected to rise 32 points or 0.6% at the open. This follows a strong end to the week on Wall Street which saw the Dow Jones rise 0.25%, the S&P 500 climb 0.4%, and the Nasdaq index jump 0.8% higher.
Oil prices jump.
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices jumped higher on Friday night. According to Bloomberg, the WTI crude oil price rose 6.8% to US$29.43 a barrel and the Brent crude oil price jumped 4.4% to US$32.50 a barrel.
Gold price storms higher.
Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could continue their charge on Monday after the gold price stormed higher. According to CNBC, the spot gold price rose 0.9% to a seven year high of US$1,756.30 an ounce after US-China tensions fuelled economic worries.
Coles class action.
The Coles Group Ltd (ASX: COL) share price will be on watch today after revealing that it has been hit with a class action. On Friday Coles advised that a class action proceeding has been filed in the Federal Court in relation to the underpayment of Coles managers employed in supermarkets. The company is already working towards remediating the affected employees. As such, it believes the class action is without merit and will defend it.
Macquarie shares going ex-dividend.
The Macquarie Group Ltd (ASX: MQG) share price is likely to trade lower today after going ex-dividend. Eligible shareholders can now look forward to being paid its $1.80 per share partially franked final dividend on July 3.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET. 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.
