On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small decline. The benchmark index fell 0.15% to 8,958.3 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 sink
The Australian share market looks set for a tough start to the week following a selloff on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 84 points or 0.95% lower. In the United States, the Dow Jones was down 1.9%, the S&P 500 fell 2.7% and the Nasdaq sank 3.55%. Traders were hitting the sell button after Donald Trump threatened to put 100% tariffs on China.
Oil prices tumble
It could be a tough start to the week for ASX 200 energy shares 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 4.2% to US$58.90 a barrel and the Brent crude oil price was down 3.8% to US$62.73 a barrel. This was driven by concerns that a US-China trade war could impact global economic growth.
ANZ strategy day
ANZ Group Holdings Ltd (ASX: ANZ) shares will be on watch on Monday when the banking giant holds its strategy day event. The big four bank is expected to announce the further transformation of its business. However, the team at UBS believes this could also come with a meaningful reduction in future dividends from current levels.
Gold price rises
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could start the week positively after the gold price pushed higher on Friday night. According to CNBC, the gold futures price was up 0.7% to US$4,000.40 an ounce. This was driven by increased demand for safe haven assets.
Buy COG shares
COG Financial Services Ltd (ASX: COG) shares are in the buy zone according to analysts Bell Potter. This morning, the broker has retained its buy rating on the financial services company's shares with an improved price target of $2.70. It said: "We stay Buy rated and turn more cautious. COG has continued to execute strongly across organic and inorganic growth while fast approaching a valuation that reflects its capital efficiency (economic returns above the cost of capital)."
