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.

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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.

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