On Friday the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped lower. The benchmark index fell 0.55% to 5,927.6 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to jump higher.
The Australian share market looks set to start the week on a strong note. According to the latest SPI futures, the ASX 200 is expected to open 51 points or 0.9% higher this morning. This is despite a disappointing end to the week on Wall Street, which saw the Dow Jones fall 0.6%, the S&P 500 drop 1.2% and the Nasdaq sink 2.45% lower.
Westpac full year results.
The Westpac Banking Corp (ASX: WBC) share price will be one to watch this morning when it releases its full year results. According to a note out of Goldman Sachs, it expects the banking giant to report cash earnings before one-offs of $2,535 million. This will be a 63% decline on the prior corresponding period. The broker has also pencilled in a final dividend of 25 cents per share, with no interim dividend being paid for FY 2020.
Oil prices continue to slide.
It could be a tough start to the week for energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices continued their slide. According to Bloomberg, the WTI crude oil price fell 1.05% to US$35.79 a barrel and the Brent crude oil price dropped 0.8% to US$37.94 a barrel. This led to oil prices dropping to five-month lows.
Gold price rebounds.
Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch on Monday after the gold price rebounded on Friday night. According to CNBC, the spot gold price rose 0.65% to US$1,879.90 an ounce after the US dollar rally stalled.
SEEK to return from trading halt.
The SEEK Limited (ASX: SEK) share price is due to return from its trading halt on Monday. On Thursday SEEK requested a trading halt whilst it prepared a response to a short seller's report issued by Blue Orca Capital. The short seller has alleged that SEEK's China business is full of fake listings and resumes.
