5 things to watch on the ASX 200 on Monday

Afterpay Ltd (ASX:APT) and Newcrest Mining Limited (ASX:NCM) shares will be on watch on the ASX 200 on Monday…

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Friday the S&P/ASX 200 Index (ASX: XJO) ended an incredible week with the smallest of gains. The benchmark index rose slightly to 6,102.2 points.

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

ASX 200 expected to edge lower.

The Australian share market looks set to start the week in a subdued fashion on Monday. According to the latest SPI futures, the ASX 200 is expected to fall 5 points or 0.1% at the open. This is despite Wall Street ending the week positively, with the Dow Jones rising 0.6%, the S&P 500 climbing 0.9%, and the Nasdaq index storming 1.4% higher.

Gold price surges higher.

It looks set to be a great day of trade for gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) on Monday. According to CNBC, the spot gold price surged 1.65% to US$1,926.20 an ounce on Friday night. This was driven by a weakening U.S. dollar and hopes that a U.S. stimulus deal will soon be reached. The silver price was even stronger and jumped 5.2%.

Coles outage.

The Coles Group Ltd (ASX: COL) share price could be one to watch after the supermarket giant was forced to shut its stores on Friday afternoon after suffering from a major outage. The company advised that a technical issue meant it was unable to process transactions for a period of time. This led to customers having to dump their trolleys and leave empty handed.

Tech shares on watch.

Tech shares such as Afterpay Ltd (ASX: APT) and Zip Co Limited (ASX: Z1P) could start the week on a high after their U.S. peers stormed higher on Friday night. The tech-heavy Nasdaq index finished the week with a sizeable 1.4% gain. The local tech sector has a habit of following the lead of the Nasdaq index.

Oil prices sink lower.

Energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices dropped lower on Friday night. According to Bloomberg, the WTI crude oil price fell 1.4% to US$40.60 a barrel and the Brent crude oil price dropped 1.15% to US$42.85 a barrel. News that an oil worker strike in Norway ended weighed on prices. Though, this couldn't stop oil from recording a gain of 9% for the week.

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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO and 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.

More on Share Market News

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »