5 things to watch on the ASX 200 on Monday

The ASX 200 looks set to start the week deep in the red.

A concerned man looking at his laptop.

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 with a stunning gain. The benchmark index jumped 1.3% to 7,279 points.

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

ASX 200 expected to tumble

The Australian share market looks set to open the week deep in the red following a shocking finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 41 points or 0.6% lower on Monday. In the United States, the Dow Jones was down 0.8%, the S&P 500 fell 1.2%, and the NASDAQ sank 1.55%. Wall Street is working through a mixed batch of economic data ahead of the Fed's policy decision.

Oil prices push higher

ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent start to the week after oil prices pushed higher again on Friday night. According to Bloomberg, the WTI crude oil price was up 0.7% to US$90.77 a barrel and the Brent crude oil price climbed 0.25% to US$93.93 a barrel. This was the third straight week of gains for oil thanks to tight supplies.

Shares go ex-dividend

A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes debt collection company Credit Corp Group Limited (ASX: CCP), hearings solutions giant Cochlear Limited (ASX: COH), and logistics solutions company Qube Holdings Ltd (ASX: QUB).

Gold price rises

ASX 200 gold shares Bellevue Gold Ltd (ASX: BGL) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price rose on Friday night. According to CNBC, the spot gold price was up 0.7% to US$1,946.2 an ounce. The market selloff drove increased demand for safe-haven assets.

Rio Tinto named as a buy

The Rio Tinto Ltd (ASX: RIO) share price could be good value according to analysts at Goldman Sachs. This morning, in the broker's weekly bulk miners review, it has retained its conviction buy rating on the miner's shares with a price target of $125.20. Goldman also continues to rate Fortescue Metals Group Ltd (ASX: FMG) as a sell with a lowly $13.80 price target.

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 Cochlear and Goldman Sachs Group. The Motley Fool Australia has recommended Cochlear. 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

Hands reaching high for a trophy with a sunset in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another day and another record high for ASX shares this Wednesday.

Read more »

A piggy bank on the cloud in the blue sky symbolising a record high share price.
Record Highs

Here's why the Vanguard Australian Shares Index ETF (VAS) just hit an all-time ASX high

If you own this ETF, you've had a great day.

Read more »

A woman frowns and crosses her arms.
Bank Shares

40% downside! Broker values CBA shares at $80 — is the fun over?

Valuations remain the top concern among brokers.

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why Deep Yellow, DroneShield, Mount Gibson Iron, and Praemium shares are falling

These shares aren't having a good time on hump day. What's going on?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Gold

Have you heard of this ASX gold stock? It's up 114% in 8 days!

Investors have sent the ASX gold stock flying higher in July. But why?

Read more »

A woman with strawberry blonde hair has a huge smile on her face and fist pumps the air having seen good news on her phone.
Share Gainers

Why Cettire, Core Lithium, Northern Star, and Step One shares are charging higher

These shares are having a good time on hump day. But why?

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Record Highs

ASX 200 hits record high, UBS keeps end of year target steady

It's the second all-time high for the benchmark index this week.

Read more »

Two brokers analysing stocks.
Broker Notes

Citi names these 3 ASX shares to buy now

Here are the latest upgrades from Citi.

Read more »