On Friday, the S&P/ASX 200 Index (ASX: XJO) finished a strong week with a very small decline. The benchmark index fell 2.8 points to 6,791.5 points.
Will the market be able to bounce back from 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 a subdued fashion after a poor night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 12 points or 0.2% lower this morning. On Wall Street, the Dow Jones was down 0.45%, the S&P 500 dropped 0.9%, and the NASDAQ tumbled 1.9%.
Oil prices fall
Energy producers Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor start to the week after oil prices pulled back on Friday. According to Bloomberg, the WTI crude oil price fell 1.7% to US$94.70 a barrel and the Brent crude oil price dropped 0.65% to US$103.30 a barrel. This was driven by a weakening global demand outlook and the resumption of some Libyan crude oil production.
South32 quarterly update
The South32 Ltd (ASX: S32) share price will be on watch today when the mining giant releases its fourth quarter update. The market is expecting a 3% increase in alumina production to 1,343kt and a 4% lift in aluminium production to 265kt. This is expected to underpin full year revenue of US$9.58 billion in FY 2022.
Gold price pushes higher
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a decent start to the week after the gold price pushed higher on Friday night. According to CNBC, the spot gold price was up 0.8% to US$1,745.30 an ounce. Thanks to softening US dollar and bond yields, the gold price snapped its five-week losing streak.
Domino's given sell rating
Goldman Sachs has reaffirmed its out of consensus sell rating and $59.20 price target on the Domino's Pizza Enterprises Ltd (ASX: DMP) share price after looking through the results of its US parent. The broker commented: "DPZ.US, the global master franchisor to DMP reported its CY2Q22 results overnight, in-line with GSe with better US SSS though weaker unit growth, while International SSS disappointed."
