On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a very positive note. The benchmark index rose a sizeable 0.85% to 8,393.8 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 for a good start to the week following a strong session on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 52 points or 0.6% higher. In the United States, the Dow Jones was up 1%, the S&P 500 rose 0.35%, and the Nasdaq pushed 0.15% higher.
Oil prices tumble again
It could be a good start to the week for ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices charged higher on Friday. According to Bloomberg, the WTI crude oil price was up 1.6% to US$71.24 a barrel and the Brent crude oil price was up 1.3% to US$75.17 a barrel. Oil prices gained over 5% for the week after the Russia-Ukraine war intensified.
WiseTech shares named as a buy
WiseTech Global Ltd (ASX: WTC) shares could be a great option for investors following Friday's selloff. That's the view of analysts at Bell Potter, which have reaffirmed their buy rating on the logistics solutions company's shares with an improved price target of $140.00 (from $123.75). It said: "Overall, we do not consider the update bad all things considered and see the upcoming investor day as a potential catalyst for the share price."
Gold price storms higher
ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price charged higher on Friday night. According to CNBC, the gold futures price was up 1.6% to US$2,718.2 an ounce. The precious metal had its best week in two years after safe haven demand increased.
Pro Medicus AGM
The high-flying shares of Pro Medicus Limited (ASX: PME) will be on watch on Monday when the rapidly growing health imaging technology company holds its annual general meeting. It is possible that Pro Medicus will provide the market with a trading update at the event. And with its shares hitting a record high on Friday, expectations clearly are high for the market darling.
