5 things to watch on the ASX 200 on Monday

A positive day is expected for the ASX 200 on Monday.

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On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a disappointing decline. The benchmark index fell 0.55% to 6,976.5 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 strong finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% higher on Monday. In the United States, the Dow Jones was up 1.15%, the S&P 500 rose 1.55%, and the NASDAQ jumped 2.05%.

ANZ results

ANZ Group Holdings Ltd (ASX: ANZ) shares will be in focus on Monday when the big four bank releases its full-year results. According to a note out of Goldman Sachs, it expects cash earnings of $7,711 million for FY 2023. This represents an impressive 18.4% increase over the prior corresponding period. As a comparison, the consensus estimate is for cash earnings of $7,537 million.

Oil prices jump

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) are likely to start the week in a positive fashion after oil prices jumped on Friday night. According to Bloomberg, the WTI crude oil price was up 1.9% to US$77.17 a barrel and the Brent crude oil price was up 1.8% to US$81.43 a barrel. However, this couldn't stop oil from recording a third consecutive weekly decline.

NIB rated as a buy

NIB Holdings Limited (ASX: NHF) shares are in the buy according to analysts at Goldman Sachs. This morning, the broker has retained its buy rating and $8.40 price target on the private health insurer's shares following its quarterly update. Goldman likes NIB because "it offers defensive exposure to the private health insurance sector which is experiencing favourable operating trends."

Gold price tumbles

ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a tough start to the week after the gold price tumbled on Friday. According to CNBC, the spot gold price was down 1.4% to US$1,942.7 an ounce. Hawkish comments from the US Fed put pressure on gold.

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 Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended NIB Holdings. 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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