5 things to watch on the ASX 200 on Monday

Here’s what to expect on Monday on the ASX 200…

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On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a very disappointing fashion. The benchmark index sank 2.2% to 7,205.6 points.

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

ASX 200 expected to tumble

The Australian share market looks set to start the week in the red following a poor night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 51 points or 0.7% lower this morning. On Wall Street, the Dow Jones fell 0.3%, the S&P 500 dropped 0.6%, and the Nasdaq tumbled 1.4%.

Oil prices rise again

Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a decent start to the week after oil prices pushed higher again. According to Bloomberg, the WTI crude oil price rose 1.4% to US$109.77 a barrel and the Brent crude oil price climbed 1.5% to US$112.39 a barrel. Oil prices rose after supply concerns continued.

Westpac half-year results

The Westpac Banking Corp (ASX: WBC) share price will be on watch when Australia’s oldest bank releases its half-year results. According to a note out of Goldman Sachs, for the six months ended 31 March, its analysts expect the banking giant to report cash earnings of $3,146 million. This will be an 11% decline on the prior corresponding period. A net interest margin of 1.82% and a 60 cents per share fully franked interim dividend are also expected.

Gold price rises

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price rose on Friday night. According to CNBC, the spot gold price is up 0.4% to US$1,882.8 an ounce. However, this wasn’t enough to stop the precious metal from recording its third consecutive weekly decline amid rising rates.

REA share price is in the buy zone

The REA Group Limited (ASX: REA) share price was sold off last week after the property listings company’s third-quarter update disappointed. Goldman Sachs appears to see this as a buying opportunity. This morning the broker has reiterated its buy rating with a trimmed price target of $164.00.

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited and Westpac Banking Corporation. 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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