On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in the red. The benchmark index fell 0.2% to 7,156.7 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to open the week higher following a decent finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points higher on Monday. In the United States, the Dow Jones was up 0.2%, the S&P 500 rose 0.15%, and the NASDAQ was up 0.1%.
Oil prices push higher
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good start to the week after oil prices pushed higher again on Friday night. According to Bloomberg, the WTI crude oil price was up 0.75% to US$87.51 a barrel and the Brent crude oil price climbed 0.7% to US$90.65 a barrel. Oil prices hit a nine-month high amid tightening supplies.
Shares go ex-dividend
A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes New Zealand-based telecommunications company Chorus Ltd (ASX: CNU), biotherapeutics giant CSL Limited (ASX: CSL), and financial technology company HUB24 Ltd (ASX: HUB).
Gold price flat
ASX 200 gold shares Bellevue Gold Ltd (ASX: BGL) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price traded flat on Friday night. According to CNBC, the spot gold price was fetching US$1,942.7 an ounce. Traders appear undecided whether the US Federal Reserve will raise interest rates this month.
Capricorn named as a buy
The Capricorn Metals Ltd (ASX: CMM) share price could be great value according to analysts at Bell Potter. This morning, the broker has retained its buy rating on the gold miner's shares with an improved price target of $5.20. It said: "CMM is a sector leading gold producer with a strong balance sheet and a management team with an excellent track record of operational delivery."
