On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a gain. The benchmark index rose 0.3% to 8,099.9 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 again on Monday after a great finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 46 points or 0.6% higher. In the United States, the Dow Jones was up 0.7%, the S&P 500 was 0.55% higher, and the Nasdaq rose 0.65%. This meant that Wall Street had its best week of 2024.
Oil prices soften
ASX 200 energy shares such as 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. According to Bloomberg, the WTI crude oil price was down 0.45% to US$68.65 a barrel and the Brent crude oil price was down 0.5% to US$71.61 a barrel. Traders were selling oil after U.S. Gulf of Mexico crude production resumed following Hurricane Francine.
Gold price storms higher
It could also be a great start to the week for ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price stormed higher on Friday. According to CNBC, the gold futures price was up 1.2% to US$2,610 an ounce. This was driven by optimism that the U.S. Federal Reserve is on the brink of trimming interest rates.
Metcash rated neutral
The team at Goldman Sachs thinks that Metcash Ltd (ASX: MTS) shares are about fair value. In response to the wholesale distributor's trading update, the broker has retained its neutral rating and $3.80 price target. It said: "Total group sales +6.1% YoY is run-rating weaker vs VA Consensus of +9.1% YoY and GSe +11.0% YoY for 1H25. The key driver is Hardware sales +2.5% YoY run-rating lower vs VA Consensus and GSe ~8%."
Shares going ex-dividend
A number of shares are due to go ex-dividend this morning and could trade lower. This includes debt collector Credit Corp Group Limited (ASX: CCP), New Zealand telco Chorus Ltd (ASX: CNU), and import and export logistics services provider Qube Holdings Ltd (ASX: QUB). The latter is paying eligible shareholders a 5.2 cents per share dividend next month on 15 October.
