5 things to watch on the ASX 200 on Monday

Treasury Wine Estates Ltd (ASX:TWE) and Zip Co Ltd (ASX:Z1P) 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) once again finished a very positive week in a subdued manner. The benchmark index dropped 0.5% to 6,601.1 points.

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

ASX 200 futures pointing higher.

The Australian share market looks set to start the week on a very positive note. According to the latest SPI futures, the ASX 200 is expected to rise 39 points or 0.6% at the open. This follows a solid end to the week on Wall Street on Friday, which saw the Dow Jones rise 0.1%, the S&P 500 climb 0.25%, and the Nasdaq jump 0.9%. The S&P 500 closed at a new record high.

Oil prices mixed.

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch today after a mixed finish to the week for oil prices. According to Bloomberg, the WTI crude oil price dropped 0.4% to US$45.53 a barrel and the Brent crude oil price climbed 0.4% to US$48.18 a barrel. Despite this mixed finish, oil prices recorded their fourth successive weekly gain.

Gold price sinks lower.

Gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could start the week in the red after the gold price tumbled lower on Friday night. According to CNBC, the spot gold price sank 1.3% to US$1,788.1 an ounce. This was driven by optimism over the global economic recovery.

Treasury Wine to return.

The Treasury Wine Estates Ltd (ASX: TWE) share price crashed 11% lower on Friday before being placed in a trading halt. The wine company’s shares are likely to emerge from their halt this morning with a response to the Chinese Ministry of Commerce announcing tariffs on all Australian wine imports. This follows a review of the preliminary findings of an anti-dumping investigation into Australia’s wine exports. Tariffs will range from between 107% to more than 200%. In FY 2020 the company generated almost half of its earnings from the Asia market.

Zip Co annual general meeting.

The Zip Co Ltd (ASX: Z1P) share price will be one to watch today when it holds its annual general meeting. Although the buy now pay later provider has only recently released a trading update, it could still provide investors with a snapshot of how it is performing in November. A further update on its international expansion plans and progress could also be on the cards.

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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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates 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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