On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week in the red. The benchmark index fell 0.7% to 9,082.2 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 fall
The Australian share market looks set for a subdued start to the week following a mixed session on Wall Street on Friday.
According to the latest SPI futures, the ASX 200 is expected to open the day 2 points lower. In the United States, the Dow Jones was up 0.1%, but the S&P 500 fell 0.4% and the Nasdaq dropped 0.9%.
Oil prices mixed
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) will be on watch after a mixed finish to the week for oil prices. According to Bloomberg, the WTI crude oil price was down 0.2% to US$88.56 a barrel and the Brent crude oil price was up slightly to US$95.84 a barrel.
A growing supply surplus put pressure on prices last week and led to a second consecutive weekly decline.
Buy ResMed shares
Catapult Wealth has named ResMed Inc. (ASX: RMD) as an ASX 200 share to buy this week, according to The Bull. It said:
This medical device maker has built an enviable reputation for treating sleep apnoea and provides masks and other accessories. The company's reach is appealing as its products are sold in more than 100 countries. Lingering investor concerns about the impact of GLP-1 weight loss drugs on the ResMed business appear to have eased.
The company is also poised to benefit from an under-penetrated global market as many sleep apnoea sufferers remain undiagnosed. […] Earnings are growing faster than sales, which is a sign of efficiency gains. The shares offer potential upside from here considering they were priced at $39.03 on January 16.
Gold price edges higher
ASX 200 gold shares Capricorn Metals Ltd (ASX: CMM) and Northern Star Resources Ltd (ASX: NST) will be on watch on Monday after a soft end to the week for gold.
According to CNBC, the gold futures price was up a fraction to US$3,886.3 an ounce. Despite this, increasing US rate hike bets led to gold having one of its worst weeks in four months.
BlueScope AGM
BlueScope Steel Ltd (ASX: BSL) shares will be on watch today. That's because the steel producer is scheduled to hold its annual general meeting and could provide the market with a trading update at the event.
Its shares are up 35% since the start of the year and within sight of a 52-week high, so it is fair to say that expectations are high.
