On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small decline. The benchmark index fell 0.1% to 8,630.8 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 drop
The Australian share market looks set for a poor start to the week following a poor finish to the last one on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 38 points or 0.45% lower. In the United States, the Dow Jones was down 1.1%, the S&P 500 fell 1.25%, and the Nasdaq dropped 1.55%.
Oil prices jump
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good session after oil prices charged higher on Friday night. According to Bloomberg, the WTI crude oil price was up 4.2% to US$105.42 a barrel and the Brent crude oil price was up 3.55% to US$109.26 a barrel. Oil prices jumped after Donald Trump warned that he is losing patience with Iran.
Elders and New Hope results
Elders Ltd (ASX: ELD) shares will be on watch today when the agribusiness company releases its half-year results. The team at Bell Potter is expecting Elders to deliver EBITDA growth of approximately 30% for FY 2026, so the market is likely to be looking for a first half performance that is run-rating towards this. Elsewhere, New Hope Corporation Ltd (ASX: NHC) is scheduled to release its third-quarter results this morning.
Gold price tumbles
ASX 200 gold shares including 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 2.6% to US$4,561.9 an ounce. Strong oil prices have sparked fears of higher inflation and interest rate hikes.
Buy TechnologyOne shares
Bell Potter thinks TechnologyOne Ltd (ASX: TNE) shares are good value. Ahead of its half-year results this week, the broker has retained its buy rating on the enterprise technology company's shares with an improved price target of $32.25 (from $31.75). It said: "We believe, however, there is some chance of ARR growth exceeding $45m in H1 due to in part to the release of Plus – Technology One's agentic AI product – and the impact this is having on product uptake by customers (e.g. James Cook University) which is driving up both NRR and ARR."
