5 things to watch on the ASX 200 on Monday

A much better session is expected for Aussie investors today.

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On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week deep in the red. The benchmark index fell 0.55% to 7,773.3 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 push higher on Monday following a strong finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 38 points or 0.5% higher. On Friday on Wall Street, the Dow Jones was up 0.8%, the S&P 500 rose 1.1%, and the Nasdaq climbed 1.25%.

Oil prices rise

ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a decent start to the week after oil prices rose again on Friday night. According to Bloomberg, the WTI crude oil price was up 0.4% to US$88.91 a barrel and the Brent crude oil price was up 0.6% to US$91.17 a barrel. Rising tensions in the Middle East gave oil prices another boost.

Buy Life360 shares

Life360 Inc (ASX: 360) shares could be great value following recent weakness in the tech sector according to analysts at Goldman Sachs. This morning, the broker has reiterated its buy rating and $14.20 price target on the location technology company's shares. Commenting on its advertising plans, the broker said: "In our view little value is being imputed for ads given that the core subscription business remains undervalued, therefore we see valuation upside on successful execution."

Gold price jumps

ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a great start to the week after the gold price jumped again on Friday. According to CNBC, the spot gold price was up 1.6% to US$2,345.4 an ounce. The precious metal hit a new record high and its third consecutive week of gains. This was driven by U.S. interest rate cut bets, speculative buying, and central bank purchases.

Magellan rated neutral

Goldman Sachs has been looking at the latest funds under management (FUM) update from Magellan Financial Group Ltd (ASX: MFG). In response, the broker has retained its neutral rating with an improved price target of $9.10. It said: "We note that FUM is tracking ahead of GSe primarily as a result of markets with flows broadly in line with expectations for the quarter. While flows were generally tracking better over Jan/Feb, March saw an increase in institutional outflows at $0.5bn for the month."

Motley Fool contributor James Mickleboro has positions in Life360 and Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Life360. The Motley Fool Australia has no position in any of the stocks mentioned. 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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