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5 things to watch on the ASX 200 on Monday

On Friday the S&P/ASX 200 Index (ASX: XJO) finished a positive week with a day in the red. The benchmark index fell 0.6% to 6,004.8 points.

Will the market be able to bounce back from this on Monday? Here are five things to watch:

ASX 200 expected to charge higher.

The ASX 200 looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is poised to open the week 42 points or 0.7% higher on Monday. This is despite it being a reasonably subdued finish to the week on Wall Street. On Friday the Dow Jones rose 0.2%, the S&P 500 edged slightly higher, and the Nasdaq index fell 0.9%.

Oil prices sink lower.

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could start the week in the red after oil prices pulled back. According to Bloomberg, on Friday night the WTI crude oil price fell 1.7% to US$41.22 a barrel and the Brent crude oil price dropped 1.5% to US$44.40 a barrel. Demand concerns weighed heavily on prices.

GPT half year result

The GPT Group (ASX: GPT) share price will be on watch when the real estate investment trust releases its half year result this morning. GPT owns a wide collection of properties including 12 retail centres such as Westfield Penrith and Melbourne Central. Investors will be interested to see what damage the pandemic has had on their valuations. According to CommSec, the market expects a profit of $264 million and an interim 11 cents per share dividend.

Gold price pulls back.

It could be a difficult start to the week for gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) on Monday. A rebound in the U.S. dollar put significant pressure on the gold price on Friday night. According to CNBC, the spot gold price fell 2% to US$2,028 an ounce.

IDP Education given buy rating.

Analysts at Goldman Sachs believe the IDP Education Ltd (ASX: IEL) share price can go a lot higher from here. The broker has put a buy rating and $17.00 price target on this student placement and language testing company. According to the note, Goldman acknowledges that near-term uncertainty is likely to persist, but it continues to see the longer-term structural growth profile of international education remaining robust.

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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 Idp Education Pty Ltd. The Motley Fool Australia has recommended REA Group 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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