On Friday the S&P/ASX 200 Index (ASX: XJO) finished the week with a disappointing decline. The benchmark index fell 0.6% to 6,806.7 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
Image source: Getty Images
ASX futures pointing higher
It looks set to be a positive start to the week for the Australian share market. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.55% higher this morning. This follows a positive finish to the week on Wall Street. On Friday night the Dow Jones rose 0.1%, the S&P 500 climbed 0.5%, and the Nasdaq index also rose 0.5%.
Oil prices push higher
Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could start the week in a positive fashion after oil prices stormed higher on Friday night. According to Bloomberg, the WTI crude oil price rose 2.1% to US$59.47 a barrel and the Brent crude oil price also climbed 2.1% to US$62.43 a barrel. Oil prices have now posted gains in nine out of the last ten trading sessions.
Nearmap short seller response and half year update
The Nearmap Ltd (ASX: NEA) share price will be one to watch this morning when it returns from its trading halt. The aerial imagery technology and location data company requested a trading halt on Thursday in order to respond to a short seller attack. Hong Kong-based J Capital alleges that Nearmap is struggling in the U.S. market and using accounting tricks to hide this. Nearmap intends to bring forward the release of its half year results and release both together today.
Gold price softens
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could edge lower after the gold price softened on Friday. According to CNBC, the spot gold price dropped 0.2% to US$1,823.20 an ounce. The gold price declined after the US dollar strengthened.
Altium half year results
The Altium Limited (ASX: ALU) share price will be one to watch this morning when it hands in its half year results. Last month the electronic design software provider released an update which revealed that it expects to report a 3% decline in to US$89.6 million. All eyes will be on its guidance for FY 2021, which was maintained at that point.
