On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week on a positive note. The benchmark index rose 0.4% to 7,643.6 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to edge higher
The Australian share market looks set to edge higher on Monday following a mixed finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points higher. On Friday in the United States, the Dow Jones was up 0.15%, but the S&P 500 rose slightly, and the Nasdaq dropped 0.3%.
Oil prices fall
It could be a relatively tough start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices dropped on Friday night. According to Bloomberg, the WTI crude oil price was down 2.7% to US$76.49 a barrel and the Brent crude oil price was down 2.45% to US$81.62 a barrel. Easing rate cut hopes weighed on oil prices.
ASX 200 result releases
There are plenty of ASX 200 releasing their results today. This includes drinks giant Endeavour Group Ltd (ASX: EDV), telco TPG Telecom Ltd (ASX: TPG), and insurers NIB Holdings Limited (ASX: NHF) and Suncorp Group Ltd (ASX: SUN). Goldman Sachs expects the latter to post cash earnings of $678 million for the first half.
Gold price rises
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a positive start to the week after the gold price pushed higher on Friday. According to CNBC, the spot gold price was up 0.75% to US$2,045.8 an ounce. Safe haven demand drove the precious metal higher.
Xero shares are a buy
Xero Ltd (ASX: XRO) shares are great value according to analysts at Goldman Sachs. The broker has reiterated its buy rating and $141.00 price target on the cloud accounting company's shares ahead of its investor day event later this week. While the broker isn't expecting any medium-term guidance to be provided, if it does, it is forecasting "FY28 Revenue of NZ$3.0bn (VAe $3.1bn), a 16% CAGR (14% sub, +2% ARPU)."
