5 things to watch on the ASX 200 on Monday

The ASX 200 looks set to have a tough start to the week…

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On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a positive note. The benchmark index rose 0.8% to 7,238.8 points.

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

ASX 200 expected to fall

The Australian share market looks set to start the week in the red following a very poor night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.45% lower this morning. On Wall Street, the Dow Jones was down 1.05%, the S&P 500 dropped 1.6%, and the Nasdaq tumbled 2.5%.

Oil prices rise

Energy producers Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good start to the week after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price rose 1.7% to US$118.87 a barrel and the Brent crude oil price climbed 1.8% to US$119.72 a barrel. Tight supply offset news that OPEC plans to increase production.

ASX 200 rebalance

S&P Dow Jones Indices has announced changes to the ASX 200 index at the next rebalance. Among the notable changes are Appen Ltd (ASX: APX) and PolyNovo Ltd (ASX: PNV) being kicked out on 20 June. Brainchip Holdings Ltd (ASX: BRN) and Core Lithium Ltd (ASX: CXO) are among the new entrants to the benchmark index.

Gold price falls

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a tough start to the week after the gold price dropped on Friday night. According to CNBC, the spot gold price is down 1.1% to US$1,850.2 an ounce. Strong US jobs data spurred on rate hike bets.

Liontown shares on watch

The Liontown Resources Limited (ASX: LTR) share price will be on watch this morning. The lithium developer is due to release an update on its agreement with electric vehicle giant Tesla today. Tesla is expected to sign up for 150,000 dry metric tonnes of spodumene concentrate from the Kathleen Valley lithium project.

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 positions in and has recommended Appen Ltd and POLYNOVO FPO. 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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