On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a subdued fashion. The benchmark index edged slightly lower to 7,493.8 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to rebound
The Australian share market looks set to start the week on a positive note following a solid finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 19 points or 0.25% higher this morning. On Wall Street, the Dow Jones rose 0.4%, the S&P 500 climbed 0.35%, and the Nasdaq pushed 0.3% higher.
Oil prices fall again
Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a subdued start to the week after oil prices dropped again. According to Bloomberg, the WTI crude oil price fell 1% to US$99.27 a barrel and the Brent crude oil price dropped 0.3% to US$104.39 a barrel. US stockpile releases led to oil prices having their worst week since 2020.
Domain shares given neutral rating
The team at Goldman Sachs believes the acquisition of Realbase by Domain Holdings Australia Ltd (ASX: DHG) will be a positive for the property listings company. It feels the acquisition of Realbase would both deepen and expand Domain's agent relations, which would present significant opportunities to cross sell incremental services. However, despite this and having a price target of $5.10, implying 27% upside, Goldman retains its neutral rating. Domain could return from its trading halt today.
Gold price falls
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price weakened again on Friday night. According to CNBC, the spot gold price fell 1.6% to US$1,923.7 an ounce. The gold price dipped after strong US jobs data boosted the US dollar.
ANZ shares given hold rating
The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price could be close to being fully valued according to Bell Potter. This morning the broker retained its hold rating but lifted its price target to $29.00. Due to weaker margins, Bell Potter expects ANZ to report a decline in half year cash earnings next month. It is expects cash earnings of $2.84 billion, down from $3.21 billion during the second half of FY 2021 and $2.99 billion from the prior corresponding period.
