5 things to watch on the ASX 200 on Monday

Will the market rebound today? Let's find out.

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On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week in a disappointing fashion. The benchmark index fell 0.55% to 7,670.3 points.

Will the market be able to bounce back from this on Monday? Here are five things to watch:

ASX 200 expected to fall again

The Australian share market looks set to fall again on Monday following a poor finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points lower. On Friday on Wall Street, the Dow Jones was down 0.5%, the S&P 500 fell 0.65%, and the Nasdaq dropped 0.95%.

Oil prices soften

ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued start to the week after oil prices softened on Friday night. According to Bloomberg, the WTI crude oil price was down 0.3% to US$81.04 a barrel and the Brent crude oil price was down 0.1% to US$85.34 a barrel. This couldn't stop oil prices from recording a decent weekly gain thanks to tightening supplies.

TechnologyOne shares named as a buy

The TechnologyOne Ltd (ASX: TNE) share price could be good value according to analysts at Bell Potter. This morning, the broker has upgraded the enterprise software provider's shares to a buy rating with an improved price target of $18.50. Bell Potter is expecting a strong result from the company in May. It said: "We see the 1HFY24 result as a potential catalyst with an expected strong result and an NRR [net revenue retention] around 115%."

Gold price eases again

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 dropped again on Friday. According to CNBC, the spot gold price was down 0.4% to US$2,159.4 an ounce. This meant the precious metal recorded its first weekly decline in a month after rate cut bets started to dwindle following a hotter than expected inflation reading.

Shares going ex-dividend

A couple of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes New Zealand telco Chorus Ltd (ASX: CNU) and investment platform provider Hub24 Ltd (ASX: HUB). They will be paying their eligible shareholders dividends of 15.2 cents per share and 18.5 cents per share, respectively, next month. Both have advised of payment dates of 16 April.

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24 and Technology One. The Motley Fool Australia has recommended Hub24 and Technology One. 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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