On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week on a positive note. The benchmark index rose 0.5% to 8,871.2 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 fall
The Australian share market looks set to start to the week in the red following a poor finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or almost 0.2% lower. In the United States, the Dow Jones was down 0.5%, the S&P 500 fell 0.3% and the Nasdaq dropped slightly.
Oil prices tumble
It looks set to be a poor 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 tumbled on Friday night. According to Bloomberg, the WTI crude oil price was down 2.5% to US$61.87 a barrel and the Brent crude oil price was down 2.2% to US$65.50 a barrel. This follows news that OPEC has agreed to boost its output in October to regain market share.
ASX 200 shares going ex-dividend
A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes insurance broker AUB Group Ltd (ASX: AUB), investment platform provider Hub24 Ltd (ASX: HUB), salary packaging company Smartgroup Corporation Ltd (ASX: SIQ), and retail conglomerate Super Retail Group Ltd (ASX: SUL). The latter is rewarding its shareholders with a fully franked final dividend of 64 cents per share next month on 16 October.
Gold price charges higher
ASX 200 gold shares 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 a further 1.3% to US$3,653.3 an ounce. Weak US jobs data fuelled rate cut bets and drove the gold price to a record high.
DroneShield to join the ASX 200
DroneShield Ltd (ASX: DRO) shares will be on watch on Monday after the high-flying counter drone technology company was added to the ASX 200 index at the September quarterly rebalance. It is one of nine shares joining the index when the market opens on 22 September. Heading out of the index are the likes of Credit Corp Group Ltd (ASX: CCP), Nufarm Ltd (ASX: NUF) and Polynovo Ltd (ASX: PNV).
