5 things to watch on the ASX 200 on Monday

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

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On Friday, the S&P/ASX 200 Index (ASX: XJO) finished a tough week on a high. The benchmark index stormed 1.9% higher to 7,075.1 points.

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

ASX 200 expected to rise again

The Australian share market looks set to start the week strongly following a great night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 54 points or 0.8% higher this morning. On Wall Street, the Dow Jones rose 1.5%, the S&P 500 climbed 2.4%, and the Nasdaq stormed 3.8% higher. The latter bodes well for the tech sector today.

Oil prices jump

Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a good start to the week after oil prices stormed higher. According to Bloomberg, the WTI crude oil price rose 4.1% to US$110.49 a barrel and the Brent crude oil price climbed 3.8% to US$111.55 a barrel. This follows supply concerns as China looks to ease COVID restrictions.

Goodman Q3 update

The Goodman Group (ASX: GMG) share price will be on watch when the industrial property company releases its third quarter update. Goodman has provided guidance for earnings per share growth of 20% in FY 2022. However, a number of brokers believe that the company will outperform this. This could mean the market will be looking for an upgrade to its guidance this morning.

Gold price rises

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 on Friday night. According to CNBC, the spot gold price is down 0.9% to US$1,808.2 an ounce. A stronger US dollar weighed on the precious metal.

Aristocrat Leisure share price is in the buy zone

The Aristocrat Leisure Limited (ASX: ALL) share price could be in the buy zone according to the team at Goldman Sachs. Ahead of the gaming technology company’s half-year results this month, the broker has retained its buy rating and $43.00 price target on its shares. Goldman expects Aristocrat to deliver a 29% lift in net profit to $531 million for the half.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 no position in any of the stocks mentioned. 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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