On Friday, the S&P/ASX 200 Index (ASX: XJO) had a strong finish to the week. The benchmark index charged 0.7% higher to 8,938.6 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 tumble
The Australian share market looks set for a tough start to the week following a poor finish to the last one on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 53 points or 0.6% lower. In the United States, the Dow Jones was up 0.1%, but the S&P 500 fell 0.3% and the Nasdaq dropped 0.4%.
Oil prices fall
It could be a difficult start to the week for ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices dropped on Friday night. According to Bloomberg, the WTI crude oil price was down 1.8% to US$62.80 a barrel and the Brent crude oil price was down 1.5% to US$65.85 a barrel. Traders were selling oil in response to Donald Trump's meeting with Vladimir Putin.
NAB Q3 results
The National Australia Bank Ltd (ASX: NAB) share price will be on watch today when the banking giant releases its third quarter update. According to a note out of Macquarie, its analysts are expecting NAB to be run-rating towards a second half net interest margin (NIM) of 1.66% and a second half cash profit of $3,488 million.
Gold price edges lower
ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price edged lower on Friday night. According to CNBC, the gold futures price was down slightly to US$3,381.7 an ounce. The precious metal recorded a weekly loss after hot inflation data trimmed rate cut bets.
Hold Temple & Webster shares
The Temple & Webster Group Ltd (ASX: TPW) share price is about fair value according to analysts at Bell Potter. According to the note, the broker has retained its hold rating on the online furniture and homewares retailer's shares with an improved price target of $28.00 (from $22.00). It said: "We continue to see catalysts of outperformance as market share capture in an expanded TAM is expedited with range, pricing/scale advantages, backed by a strong balance sheet. At our PT of $28.00 the total expected return is <15% so we maintain our HOLD rating."
