On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week with a small gain. The benchmark index rose 0.2% to 8,908.1 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 edge lower
The Australian share market looks set for a subdued start to the week following a poor session on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points lower. In the United States, the Dow Jones was down 1.1%, the S&P 500 fell 1.8%, and the Nasdaq tumbled 2.85% lower.
Oil prices rise
ASX 200 energy shares including 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 2.1% to US$104.12 a barrel and the Brent crude oil price was up 2.6% to US$113.43 a barrel. Prices were driven higher by concerns about supply disruptions in the Middle East, including an attack on a tanker in the Strait of Hormuz.
Sell CSL shares
The team at Sanlam Private Wealth has named CSL Ltd (ASX: CSL) shares as a sell this week according to The Bull. It said: "The share price of this biotechnology giant has staged a strong recovery since it was priced at $92.24 on June 3. The shares were trading at $197.15 on October 29. The stock was recently trading about 10 per cent above global peers. Despite the company forecasting underlying profit growth of about 5 per cent in fiscal year 2027, we believe the solid outlook is more than factored in to recent price levels. In our view, the risk-return equation during the next 12 months is unfavourable at this point. The share price recovery at CSL provides an opportunity to take some profits in favour of companies offering brighter capital growth prospects."
Gold price tumbles
It could be a difficult 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 tumbled on Friday night. According to CNBC, the gold futures price was down 3.3% to US$3,898.9 an ounce. The gold price hit a one-year low amid increased rate hike bets.
Tech shares on watch
A number of ASX 200 tech shares will be on watch today after a tech selloff on Wall Street on Friday. The worst performer was Intel Corp (NASDAQ: INTC), which sank almost 30%. This could mean the likes of WiseTech Global Ltd (ASX: WTC), Life360 Inc. (ASX: 360), and NextDC Ltd (ASX: NXT) have a difficult session on the ASX boards on Monday.
