On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a subdued note. The benchmark index fell 0.1% to 7,049.4 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 relatively positive finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 28 points or 0.4% higher on Monday. In the United States, the Dow Jones was up a fraction, the S&P 500 rose 0.1%, and the NASDAQ also rose 0.1%.
Oil prices jump
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) should start the week strongly after oil prices jumped on Friday night. According to Bloomberg, the WTI crude oil price was up 4% to US$75.84 a barrel and the Brent crude oil price was up 4.1% to US$80.61 a barrel. Analysts appear to believe the recent selloff was overdone.
Pro Medicus AGM
Pro Medicus Limited (ASX: PME) shares will be in focus on Monday when the health imaging technology company holds its annual general meeting. The high-flying tech stock could provide the market with an update on its first-quarter performance at the event.
Neuren rated as a buy
Neuren Pharmaceuticals Ltd (ASX: NEU) shares are in the buy according to Bell Potter. Its analysts have responded to the pharmaceutical company's latest update by retaining their buy rating and $17.50 price target. The broker said: "Neuren's commercial partner Acadia is guiding to ~US$175m in DAYBUE sales for CY23 after only 8 months on the US market. This impressive launch will translate into large sums of ongoing royalties and one-off sales milestones to NEU."
Gold price edges lower
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a soft start to the week after the gold price edged lower on Friday. According to CNBC, the spot gold price was down 0.2% to US$1,983.5 an ounce. This may have been driven by profit-taking after strong gains in previous sessions. Gold rose 2.3% last week.
