On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in style. The benchmark index rose a sizeable 1.2% to 8,697.3 points.
Will the market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to tumble
The Australian share market looks set for a very poor 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 51 points or 0.6% lower. In the United States, the Dow Jones was down 0.5%, the S&P 500 fell 1.1%, and the Nasdaq pushed 1.7% lower.
Oil prices weaken
It could 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 weakened on Friday night. According to Bloomberg, the WTI crude oil price was down 0.3% to US$57.44 a barrel and the Brent crude oil price was down 0.25% to US$61.12 a barrel. This was driven by oversupply concerns.
Buy Harvey Norman shares
Bell Potter thinks that Harvey Norman Holdings Ltd (ASX: HVN) shares could be a top pick for investors. This morning, the broker has retained its buy rating and $8.30 price target on its shares. It said: "Australian household spending for Oct'25 has been somewhat assisted by the earlier start of the Black Friday promotional period (running on an extended basis from mid-late Oct to Cyber Monday), with non-food categories up 5.3% YOY. While we expect a relatively robust promotional period apart from the weakest discretionary categories as somewhat evident in the recent trading updates (such as mass apparel, lifestyle footwear and some parts of household goods), we also remain cautious on trends for the months ahead."
Gold price rises
ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price pushed higher on Friday night. According to CNBC, the gold futures price was up 0.35% to US$4,328.3 an ounce. This saw the precious metal climb to a seven-week high.
Buy Cedar Woods shares
Bell Potter thinks that Cedar Woods Properties Ltd (ASX: CWP) shares are in the buy zone. This morning, the broker has reaffirmed its buy rating and $9.70 price target on its shares. This implies potential upside of 18% for investors over the next 12 months. The broker has named the residential property developer as one of its key picks in the real estate sector.
