5 things to watch on the ASX 200 on Monday

A decent session is expected for Aussie investors today.

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On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week in a positive fashion. The benchmark index rose 0.55% to 7,629 points.

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

ASX 200 expected to rise

The Australian share market looks set for another good session following a strong night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.3% higher. On Friday on Wall Street, the Dow Jones was up 1.2%, the S&P 500 rose 1.25%, and the Nasdaq jumped 2%. Rate cut hopes were boosted by a softer-than-expected U.S. jobs report.

Oil prices fall

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued start to the week after oil prices fell on Friday. According to Bloomberg, the WTI crude oil price was down 1.05% to US$78.11 a barrel and the Brent crude oil price was down 0.85% to US$82.96 a barrel. This led to the worst weekly performance in three months for oil.

Westpac first-half results

Westpac Banking Corp (ASX: WBC) shares will be on watch today when Australia's oldest bank releases its first-half results this morning. The market is expecting the bank to report a 16% decline cash earnings (before one-offs) to $3,446 million. This is expected to lead to Westpac declaring a fully franked interim dividend of 71 cents per share for the six months. This will be up from 70 cents a year ago.

Gold price edges higher

ASX 200 gold mining shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price edged higher on Friday. According to CNBC, the spot gold price was up a fraction to US$2,310.10 an ounce. At one stage, gold fell to a one-month low despite the weaker-than-expected U.S. jobs data.

Macquarie rated neutral

The Macquarie Group Ltd (ASX: MQG) share price could be fully valued according to analysts at Goldman Sachs. In response to the investment bank's FY 2024 results, the broker has reiterated its neutral rating with a trimmed price target of $178.74. It said: "With the stock trading on a revised FY25E PER of 17x, which is c.15% above its 15-year average of 14.4x, and offering very little potential TSR against our revised TP, we stay Neutral."

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation 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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie 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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