Motley Fool Australia

5 things to watch on the ASX 200 on Monday

Worried young male investor watches financial charts on computer screen
Image source: Getty Images

On Friday the S&P/ASX 200 Index (ASX: XJO) finished the week on a disappointing note. The benchmark index fell 0.55% to 6,708.2 points.

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

ASX 200 expected to drop

The Australian share market looks set to drop this morning following another mixed finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 15 points or 0.2% lower today. On Wall Street on Friday night, the Dow Jones fell 0.7% and the S&P 500 edged slightly lower. A rebound in tech stocks led to the Nasdaq index defying the weakness to record a 0.75% gain.

Crown a takeover target?

The Crown Resorts Ltd (ASX: CWN) share price will be in focus today amid speculation that the casino and resorts operator could be a takeover target. According to the AFR, US investment company Blackstone is rumoured to be interested in acquiring the $6.7 billion casino giant. It reportedly already owns a 10% stake in the company.

Tech shares could rise

Tech shares such as Afterpay Ltd (ASX: APT) and Altium Limited (ASX: ALU) could have a positive start to the week after their US counterparts ended last week strongly. As mentioned above, the Nasdaq index rose 0.75% on Friday night after tech stocks rebounded. In respect to Afterpay, the shares of rival Affirm rose 4% on the Nasdaq on Friday. This could bode well for its shares on Monday.

Oil prices climb

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could start the week in a positive fashion after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price climbed 2.4% to US$61.42 a barrel and the Brent crude oil price rose 2% to US$64.53 a barrel. This couldn’t stop oil prices recording a sizeable weekly decline amid concerns over demand and rising inventories.

Gold price rises

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch on Monday after the gold price pushed higher on Friday. According to CNBC, the spot gold price rose 0.55% to US$1,719.80 an ounce. This led to the gold price recording its second weekly gain in a row.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

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 and recommends Altium. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Crown Resorts Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Related Articles…

Latest posts by James Mickleboro (see all)