5 things to watch on the ASX 200 on Monday

It looks set to be a great day for investors on Monday!

A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a positive fashion. The benchmark index rose 0.2% to 7,154.8 points.

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

ASX 200 expected to race higher

The Australian share market is expected to have a stellar session following an impressive finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 70 points or 1% higher on Monday. In the United States, the Dow Jones was up 1%, the S&P 500 rose 1.3%, and NASDAQ jumped 2.2%. US debt ceiling progress boosted markets.

Oil prices charge higher

It looks set to be a good start to the week for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices charged higher on Friday. According to Bloomberg, the WTI crude oil price was up 1.2% to US$72.67 a barrel and the Brent crude oil price rose 0.9% to US$76.95 a barrel. Optimism over a US debt ceiling deal being reached boosted prices.

Nickel Industries named as a bargain buy

Analysts at Bell Potter believe that Nickel Industries Ltd (ASX: NIC) shares could be a bargain buy. This morning, the broker has reiterated its buy rating with a $1.73 price target. This implies 100% upside. It commented: "Its aggressive growth outlook and undemanding valuation metrics make it one of our top picks."

Gold price edges higher

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price edged higher on Friday night. According to CNBC, the spot gold price rose 0.05% to US1,963.1 per ounce. Traders appear undecided on where gold is heading from here.

ALS results

The ALS Ltd (ASX: ALQ) share price will be in focus today. That's because the testing services company is scheduled to release its full-year results this morning. ALS has provided FY 2023 underlying net profit after tax guidance of between $312 million and $322 million.

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.

More on Share Market News

A young woman dressed in street clothes leaps happily in the air with the focus on her bright red boots that are front and centre for the camera.
Opinions

I'm listening to Warren Buffett and loading up on cheap ASX shares in March

I love the look of these stocks at these prices.

Read more »

A young woman sits on her bed holding a cup of coffee inside her recreational vehicle hired through the Camplify website
Cheap Shares

2 cheap ASX shares to add to your portfolio before they get expensive

I reckon this duo could see their stock prices rocket after they brush off temporary setbacks.

Read more »

Business woman watching stocks and trends while thinking
Share Market News

5 things to watch on the ASX 200 on Thursday

Will investors be leaping for joy on 29 February?

Read more »

A young man goes over his finances and investment portfolio at home.
Growth Shares

1 ASX growth stock down 30% to buy right now

The market has reacted badly to this ASX 200 company's half-year result. This could be your chance to get in.

Read more »

A female miner wearing a high vis vest and hard hard smiles and holds a clipboard while inspecting a mine site with a colleague.
Share Market News

Here's the Rio Tinto dividend forecast through to 2026

Here's what analysts are forecasting for the miner's dividend.

Read more »

Woman with headphones on relaxing and looking at her phone happily.
Dividend Investing

How I'd invest $250 a month in ASX dividend shares to target a $24,000 annual second income

Passive income is within the reach of ordinary Aussies, just like you. Yes, I said you!

Read more »

A man looking at his laptop and thinking.
Share Gainers

Should I buy Nvidia stock as an Australian investor?

Many Aussies are thinking of jumping on the bandwagon, but they need to think about these issues first.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rough day for ASX 200 investors this Wednesday.

Read more »