On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small decline. The benchmark index fell 0.15% to 8,617.1 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 again
The Australian share market looks set for a disappointing start to the week following declines on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 61 points or 0.7% lower. In the United States, the Dow Jones was down 0.25%, the S&P 500 dropped 0.6%, and the Nasdaq tumbled 0.9%.
Oil prices rise
It could be a positive start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices charged higher on Friday night. According to Bloomberg, the WTI crude oil price was up 3.1% to US$98.71 a barrel and the Brent crude oil price was up 2.7% to US$103.14 a barrel. This was despite US efforts to reduce prices.
ASX 200 shares going ex-div
A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes Capricorn Metals Ltd (ASX: CMM), Chorus Ltd (ASX: CNU), Hub24 Ltd (ASX: HUB), Kingsgate Consolidated Ltd (ASX: KCN), and Ramelius Resources Ltd (ASX: RMS). Hub24 is rewarding shareholders with a 36 cents per share fully franked dividend next month on 21 April.
Gold price falls
ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price tumbled on Friday night. According to CNBC, the gold futures price was down 2% to US$5,023.1 an ounce. This was the second week in a row of weekly declines in response to inflation and rate hike concerns.
Buy Cochlear shares
The team at Wilsons thinks investors should be buying Cochlear Ltd (ASX: COH) shares. It highlights that the hearing solution company's shares are trading at a material discount to long-term multiples. The broker said: "Cochlear trades on a forward P/E multiple of ~26x, representing a >10 year low and a material discount to its 10-year average of ~42x. We view this as a compelling entry point for a high-quality business ahead of accelerating earnings growth."
