On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a positive fashion. The benchmark index rose 0.8% to 8,682.1 points.
Will the market be able to build on 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 positive start to the week following a strong session on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 26 points or 0.3% higher. In the United States, the Dow Jones was up 0.5%, the S&P 500 rose 0.75%, and the Nasdaq stormed 1.2% higher.
Oil prices soften
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued start to the week after oil prices fell on Friday night. According to Bloomberg, the WTI crude oil price was down 1.9% to US$91.11 a barrel and the Brent crude oil price was down slightly to US$102.25 a barrel. This appears to have been driven by optimism that the Strait of Hormuz could reopen soon.
Buy Artrya shares
Artrya Ltd (ASX: AYA) shares could have major upside potential according to analysts at Bell Potter. This morning, the broker has retained its buy rating and $6.00 price target on the AI stock. It said: "AYA has secured its fourth customer for its Salix platform which improves the detection and management of coronary artery disease (CAD). Huntsville Hospital Health System (HH) is a 14-hospital system (and 19 care centres) across Alabama and Tennessee in the US. […] The material rise in the share price illustrates how significant the HH signing is, albeit completing integration of NGHS / Cone, as well as the FFR-CT FDA submission / approval are more significant catalysts at present."
Gold price drops
It could be a subdued 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 dropped on Friday night. According to CNBC, the gold futures price was down 0.95% to US$4,162.3 an ounce. A strong US dollar and elevated Treasury yields weighed on the gold price last week.
Buy NextDC shares
Dolphin Partners has named NextDC Ltd (ASX: NXT) shares as a buy this week according to The Bull. Commenting on its recommendation, it said: "NXT has invested heavily in infrastructure during the past three years. The recent share price decline enables longer term investors to gain entry into a growth stock with structural tailwinds."
