On Friday the S&P/ASX 200 Index (ASX: XJO) finished a solid week on a positive note. The benchmark index rose 0.3% to 7,080.8 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 futures pointing lower
The Australian share market looks set to start the week with a small decline despite a solid finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 4 points lower this morning. On Wall Street on Friday, the Dow Jones rose 0.65%, the S&P 500 climbed 0.75%, and the Nasdaq stormed 0.9%.
Both the Crown Resorts Ltd (ASX: CWN) share price and the Star Entertainment Group Ltd (ASX: SGR) share price will be ones to watch closely amid speculation the latter has tabled a merger proposal. According to the SMH, Star is proposing a $12 billion merger that would create a gambling and hospitality giant.
Oil prices rise
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could start the week on a positive note after oil prices pushed higher. According to Bloomberg, the WTI crude oil price rose 0.3% to US$64.90 a barrel and the Brent crude oil price climbed 0.3% to US$68.28 a barrel. Oil prices added 2% for the week.
Gold price pushes higher
Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price stormed higher on Friday night. According to CNBC, the spot gold price recorded a 0.85% gain to US$1,767.0 an ounce. The precious metal had its best week in six months.
Iron ore price jumps again
The shares of BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) could be on the rise today after the iron ore price continued its ascent. According to Metal Bulletin, the spot iron ore price rose US$10.37 per tonne or 5.1% to US$212.25 per tonne on Friday night.