5 things to watch on the ASX 200 on Monday

Fortescue Metals Group Limited (ASX:FMG) and JB Hi-Fi Limited (ASX:JBH) shares will be on watch on the ASX 200 on Monday…

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On Friday the S&P/ASX 200 Index (ASX: XJO) finished a very positive week with a solid gain. The benchmark index rose 0.6% to 6,126.2 points.

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

ASX futures pointing lower.

The benchmark ASX 200 looks set to start the week in the red. According to the latest SPI futures, the ASX 200 is poised to open the week 58 points or 0.95% lower on Monday. This follows a reasonably underwhelming finish to the week on Wall Street. On Friday the Dow Jones rose 0.1%, the S&P 500 was flat, and the Nasdaq index fell 0.2%.

Fortescue results, dividend on watch

The Fortescue Metals Group Limited (ASX: FMG) share price will be one to watch this morning when it releases its full year results. Expectations are high for the mining giant after record shipments, improving grades, and the sky-high iron ore price. Last week analysts at Macquarie suggested Fortescue could pay a dividend of ~$1.80 per share for FY 2020. This represents a 10% dividend yield.

Oil prices drop 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 dropped lower. According to Bloomberg, on Friday night the WTI crude oil price fell 0.55% to US$42.01 a barrel and the Brent crude oil price dropped 0.4% to US$44.80 a barrel. Demand fears weighed on prices at the end of the week.

Gold price tumbles lower.

It could be a poor start to the week for gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) on Monday. According to CNBC, the spot gold price fell 1% to US$1,949.80 an ounce on Friday night. This led to the precious metal having its worst week in almost six months.

JB Hi-Fi result

The JB Hi-Fi Limited (ASX: JBH) share price will be on watch today when it releases its full year results. According to a note out of Goldman Sachs, its analysts expect the retailer to report sales of $8,026.6 million. This compares to its guidance of $7,860 million. The broker also expects earnings before interest and tax of $519.6 million for FY 2020. ($502.5 million on a pre-AASB16 basis.)

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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