On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week on a high. The benchmark index rose 0.6% to 7,745.6 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to rise again
The Australian share market looks set to rise on Monday after records were broken on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points higher. On Friday on Wall Street, the Dow Jones was up 0.2%, the S&P 500 rose 0.8%, and the Nasdaq stormed 1.15% higher.
Oil prices climb
It could be a good start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices pushed higher on Friday night. According to Bloomberg, the WTI crude oil price was up 2% to US$79.81 a barrel and the Brent crude oil price was up 2% to US$83.55 a barrel. Traders appear optimistic that OPEC will announce new production cuts.
Life360 shares can keep rocketing
The Life360 Inc (ASX: 360) share price was on fire on Friday and rocketed almost 40% higher. The team at Goldman Sachs believes that this is just the beginning of greater gains. This morning, the broker has reiterated its buy rating and lifted its price target by a third to $14.20. This implies 26% upside for investors from current levels.
Gold price hits two-month high
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price stormed higher on Friday. According to CNBC, the spot gold price was up 1.8% to US$2,091.6 an ounce. The precious metal hit a two-month high on rate cut hopes.
Shares going ex-dividend
A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes gold miner Newmont, investment platform provider Netwealth Group Ltd (ASX: NWL), property listings company REA Group Ltd (ASX: REA), and insurance broker Steadfast Group Ltd (ASX: SDF).
