On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in the red. The benchmark index fell 0.6% to 8,967.4 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
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ASX 200 expected to storm higher
The Australian share market looks set for a great start to the week following a strong finish to the last one on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 84 points or 0.95% higher. In the United States, the Dow Jones was up 1.9%, the S&P 500 rose 1.5%, and the Nasdaq stormed 1.9% higher.
Oil prices rise
It could be a reasonably positive 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 pushed higher on Friday night. According to Bloomberg, the WTI crude oil price was up 0.1% to US$63.66 a barrel and the Brent crude oil price was up 0.1% to US$67.73 a barrel. Traders were buying oil after Russia-Ukraine peace talks stalled.
Fortescue results
The Fortescue Ltd (ASX: FMG) share price will be on watch today when the iron ore giant releases its full year results. According to a note out of Bell Potter, its analysts are expecting the miner to report sales of US$15,178 million and an adjusted net profit after tax of US$3,239 million. The latter will be down 43% on the prior corresponding period. This is expected to lead to the Fortescue board cutting its full year dividend to 105 Australian cents per share
Gold price jumps
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a great start to the week after the gold price stormed higher on Friday night. According to CNBC, the gold futures price was up 1.1% to US$3,418.5 an ounce. The gold price charged higher after comments out of the US Federal Reserve sparked rate cut hopes.
Buy Goodman shares
The Goodman Group (ASX: GMG) share price could be in the buy zone according to analysts at Bell Potter. This morning, its analysts have retained their buy rating on the industrial property giant's shares with an improved price target of $40.75. The broker said: "GMG is into it and on with it as its investment phase for its DC build-out program gathers pace, with early phase of recognition starting to work through, evidenced in YoC which climbed to 7.5% (was 6.7%) weighted up by return size and dollar quantum of fully fitted DCs which was a notable step change intra-period."
