5 things to watch on the ASX 200 on Monday

Afterpay Ltd (ASX:APT) and Oil Search Ltd (ASX:OSH) shares will be on watch on the ASX 200 on Monday…
The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia. –

Business man watching stocks while thinking

On Friday the S&P/ASX 200 Index (ASX: XJO) finished a mixed week with the smallest of gains. The benchmark index rose by a modest 5.3 points to 7,060.7 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 futures pointing higher

The Australian share market looks set to start the week much as it finished it. According to the latest SPI futures, the ASX 200 is expected to open the week 4 points higher this morning. This is despite Wall Street finishing the week very strongly on Friday. The Dow Jones rose 0.7%, the S&P 500 climbed 1.1%, and the Nasdaq stormed 1.4% higher.

Oil prices rise

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could start the week on a positive note after oil prices pushed higher. According to Bloomberg, the WTI crude oil price rose 1.2% to US$62.14 a barrel and the Brent crude oil price climbed 1.1% to US$66.11 a barrel. That wasn’t enough to stop both WTI and Brent crude oil recording weekly declines amid demand recovery concerns.

Tech shares on watch

Tech shares such as Afterpay Ltd (ASX: APT) and Appen Ltd (ASX: APX) come have a positive start to the week after US tech stocks stormed higher on Friday night. The Nasdaq index rose 1.4% after US investors shrugged off concerns over possible capital gain tax increases. As the local tech sector tends to follow the lead of their US counterparts, today could be a good session.

Gold price softens

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price softened on Friday night. According to CNBC, the spot gold price fell 0.25% to US$1,777.80 an ounce. Strong US economic data put pressure on the safe haven asset.

Oil Search rated as a buy

The Oil Search Ltd (ASX: OSH) share price could be great value according to analysts at Goldman Sachs. This morning the broker reaffirmed its buy rating but trimmed its price target to $5.55. This compares to the latest Oil Search share price of $3.78. The broker named it as a key pick in the sector, noting that it has leverage to its expected improvement in oil prices.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Appen Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!