5 things to watch on the ASX 200 on Monday

A much better session is expected for Aussie investors on Monday.

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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 1.4% to 7,575.9 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 rebound on Monday following a strong night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% higher. On Friday on Wall Street, the Dow Jones was up 0.4%, the S&P 500 rose 1%, and the Nasdaq jumped 2%.

Oil prices rise

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good start to the week after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price was up 0.35% to US$83.85 a barrel and the Brent crude oil price was up 0.55% to US$89.50 a barrel. This meant that oil prices snapped their two-week weekly losing streak.

BHP takeover offer rejected

The BHP Group Ltd (ASX: BHP) share price will be one to watch today after Anglo American (LSE: AAL) rejected its ~A$60 billion takeover offer. Commenting on the rejection, the global miner said: "The Board has considered the Proposal with its advisers and concluded that the Proposal significantly undervalues Anglo American and its future prospects."

Gold price rises

ASX 200 gold mining shares including 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 0.2% to US$2,347.2 an ounce. The precious metal rose after data showed that U.S. inflation rose in line with expectations.

Super Retail rated as a buy

Super Retail Group Ltd (ASX: SUL) shares are in the buy zone according to analysts at Goldman Sachs. In response to news of legal action against the retailer, the broker has retained its buy rating and $17.80 price target. It said: "We take no view on the outcome of the litigation and await further detail from the company. We continue to believe that SUL is building a competitive advantage through 11.1mn members and 76% sales to members, which will help drive sales in a more complex operating environment. We remain Buy rated on SUL."

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 Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. 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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