On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small decline. The benchmark index fell almost 0.1% to 8,973.1 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 fall
The Australian share market looks set to start the week in the red following a poor finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 25 points or 0.3% lower. In the United States, the Dow Jones was down 0.2%, the S&P 500 fell 0.65%, and the Nasdaq dropped 1.15%.
Oil prices drop
It could be a subdued 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 pulled back on Friday night. According to Bloomberg, the WTI crude oil price was down 0.9% to US$64.01 a barrel and the Brent crude oil price was down 0.75% to US$67.48 a barrel. This was driven by weaker demand expectations and a possible peace deal between Russia and Ukraine.
ASX 200 shares going ex-dividend
A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes iron ore giant Fortescue Ltd (ASX: FMG), gambling company Tabcorp Holdings Ltd (ASX: TAH), rail freight operator Aurizon Holdings Ltd (ASX: AZJ), and energy company Karoon Energy Ltd (ASX: KAR). In respect to Fortescue, it will be rewarding its shareholders with a fully franked final dividend of 60 cents per share later this month on 26 September.
Gold price rises
ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a solid start to the week after the gold price pushed higher on Friday night. According to CNBC, the gold futures price was up 1.2% to US$3,516.1 an ounce. Favourable inflation data in the US boosted interest rate cut bets.
Buy Paladin Energy shares
The Paladin Energy Ltd (ASX: PDN) share price could be good value according to Bell Potter. This morning, the broker has retained its buy rating on the uranium producer's shares with an improved price target of $9.00. Commenting on its results and outlook, Bell Potter said: "The market reacted negatively to the results, with PDN's share price closing down 3.5%. We continue to expect near-term volatility within early reporting periods as PDN optimises blending strategies and navigates contract mix/ payment timing at LHM. Predictability should improve as LHM reaches steady state production (FY27)."
