On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in the red. The benchmark index fell 1.15% to 6,900.7 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
ASX 200 expected to sink again
The Australian share market looks set to open the week deep in the red again following a poor finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 65 points or 0.9% lower on Monday. In the United States, the Dow Jones was down 0.85%, the S&P 500 fell 1.25%, and the NASDAQ sank 1.5%.
Oil prices ease
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be in focus after oil prices eased on Friday night. According to Bloomberg, the WTI crude oil price was down 0.3% to US$88.08 a barrel and the Brent crude oil price was down 0.25% to US$92.16 a barrel. A slight de-escalation of Middle East tensions was behind this decline.
Treasury Wine on watch
Treasury Wine Estates Ltd (ASX: TWE) shares will be on watch this morning. That's because the Chinese government has agreed to undertake an expedited review of its Australian wine duties. Prime Minister Anthony Albanese said: "I welcome the progress we have made to return Australian products, including Australian wine, to the Chinese market."
Gold price nears US$2,000
ASX 200 gold shares such as Bellevue Gold Ltd (ASX: BGL) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price continued its ascent on Friday night. According to CNBC, the spot gold price was up 0.65% to US$1,993.1 an ounce. Demand for safe-haven assets pushed gold higher.
New Hope shares go ex-dividend
The New Hope Corporation Ltd (ASX: NHC) share price is likely to trade sharply lower on Monday. That's because the coal miner's shares are due to trade ex-dividend this morning for its upcoming final dividend. Eligible shareholders can now look forward to receiving this 30 cents per share fully franked dividend next month on 7 November.
