On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in the red. The benchmark index fell 0.4% to 7,278.3 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to rebound
The Australian share market looks set to open the week higher following a good finish on Wall Street last week. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.4% higher on Monday. In the United States, the Dow Jones was up 0.3%, the S&P 500 rose 0.2%, and the NASDAQ was flat.
Oil prices charge higher
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a solid start to the week after oil prices charged higher on Friday night. According to Bloomberg, the WTI crude oil price was up 2.3% to US$85.55 a barrel and the Brent crude oil price climbed 2% to US$88.55 a barrel. Tightening supplies boosted prices.
Fortescue goes ex-dividend
The Fortescue Metals Group Ltd (ASX: FMG) share price is likely to tumble on Monday when it trades ex-dividend. The iron ore giant is paying shareholders a fully franked $1.00 per share final dividend on 28 September. A number of other ASX 200 shares are going ex-dividend today as well. This includes Beach Energy and Bendigo and Adelaide Bank Ltd (ASX: BEN).
Gold price edges higher
ASX 200 gold shares Bellevue Gold Ltd (ASX: BGL) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price edged higher on Friday night. According to CNBC, the spot gold price was up a fraction to US$1,966.2 an ounce. The precious metal had a decent week thanks to easing rate hike expectations.
Brainchip dumped out of ASX 200
The Brainchip Holdings Ltd (ASX: BRN) share price will be one to watch today after the struggling semiconductor company was named as one of five companies to be kicked out of the ASX 200 index at the upcoming rebalance. This could be a blessing in disguise for the meme stock, as some short sellers may be forced to close their positions once it leaves the index.
