On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week deep in the red. The benchmark index fell 0.9% to 8,741.2 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 rise
The Australian share market looks set for a decent start to the week following a good session on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.2% higher. In the United States, the Dow Jones was up 1%, the S&P 500 rose 0.85%, and the Nasdaq stormed 0.95% higher.
Oil prices fall
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) will be on watch on Monday after oil prices pulled back on Friday night. According to Bloomberg, the WTI crude oil price was down 2.4% to US$100.05 a barrel and the Brent crude oil price was down 2.8% to US$104.61 a barrel. However, an escalation in the Middle East over the weekend could send oil prices higher when Asian markets open.
Buy NextDC shares
NextDC Ltd (ASX: NXT) shares could be worth a look according to Shaw and Partners. This morning, according to The Bull, its team has named the data centre operator as a buy. It said: "While investment spending remains elevated, management continues to secure long term customer contracts that provide earnings visibility. With structural growth tailwinds expected to persist for many years, NXT remains well positioned to deliver attractive long term shareholder returns."
Gold price edges higher
It could be a mildly positive start to the week for ASX 200 gold shares Capricorn Metals Ltd (ASX: CMM) and Northern Star Resources Ltd (ASX: NST) after the gold price edged higher on Friday night. According to CNBC, the gold futures price was up slightly to US$4,408.9 an ounce. Traders were buying the dip despite increasing US rate hike bets.
ASX shares going ex-dividend
Another group of ASX shares are going ex-dividend this morning and could trade lower. Among them are debt collector Credit Corp Group Ltd (ASX: CCP), telco Chorus Ltd (ASX: CNU), travel and transport company Kelsian Group Ltd (ASX: KLS), and airline operator Virgin Australia Holdings Ltd (ASX: VGN). The latter is paying a fully franked 7.6 cents per share dividend next month on 15 October.
