On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week on a mildly positive note. The benchmark index rose 0.15% to 7,982 points.
Will the market be able to build on this on Monday? Here are five things to watch:
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ASX 200 expected to sink
The Australian share market looks set to sink on Monday following another selloff on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 91 points or 1.1% lower. In the United States, the Dow Jones fell 1.7%, the S&P 500 sank 2%, and the Nasdaq tumbled 2.7%.
Buy Qantas shares
Goldman Sachs thinks that investors should be buying Qantas Airways Ltd (ASX: QAN) shares this week. This morning, the broker has reaffirmed its buy rating and $11.80 price target on the airline operator's shares. This implies potential upside of 25% for investors over the next 12 months. It said: "Despite peer weakness and subsequent valuation gap vs US peers narrowing, QAN is trading at a discount vs regional & US peers and at lower PE vs pre-COVID."
Oil prices fall
It looks set to be a subdued start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices fell on Friday night. According to Bloomberg, the WTI crude oil price was down 0.8% to US$69.36 a barrel and the Brent crude oil price was down 0.5% to US$73.63 a barrel. This couldn't stop oil prices from recording a modest weekly gain amid supply concerns.
Gold price hit new record high
ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a great start to the week after the gold price charged to a new record high on Friday night. According to CNBC, the gold futures price was up 0.9% to US$3,118 an ounce. Trade war concerns sent the precious metal to a new all-time high.
Dividends being paid
A number of ASX 200 shares will be rewarding their shareholders with their latest dividend payments on Monday. Among the companies making payouts are Bendigo and Adelaide Bank Ltd (ASX: BEN), Beach Energy Ltd (ASX: BPT), Karoon Energy Ltd (ASX: KAR), Iress Ltd (ASX: IRE), Gold Road Resources Ltd (ASX: GOR), and Viva Energy Group Ltd (ASX: VEA). Bendigo and Adelaide Bank will be paying eligible shareholders a fully franked 30 cents per share dividend.
