5 things to watch on the ASX 200 on Monday

Here’s what to expect on Monday on the ASX 200…
The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia. –

On Friday the S&P/ASX 200 Index (ASX: XJO) was on form and finished the week on a positive note. The benchmark index rose 0.9% to 7,320.1 points.

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

ASX 200 expected to edge lower

The Australian share market looks set to start the week on a subdued note. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points or 0.05% lower this morning. This follows a soft end to the week on Wall Street, which saw the Dow Jones edge slightly lower, the S&P 500 fall 0.2%, and the Nasdaq drop 0.5%.

Oil prices rise

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a solid start to the week after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price is up 1.05% to US$79.35 a barrel and the Brent crude oil price has risen 1.2% to US$82.39 a barrel. Prices rose 3.9% and 4.6%, respectively, over the five days amid supply concerns.

PointsBet named as a buy

The Pointsbet Holdings Ltd (ASX: PBH) share price could be in the buy zone according to analysts at Goldman Sachs. This morning the broker retained its buy rating and $14.75 price target on the sports betting and iGaming provider. Goldman was recently at a conference in Las Vegas where the management teams of PointsBet and other gaming companies were attending. It notes that the companies reported stronger near-term top-line trends in online even as challenging comparisons are lapped.

Gold price edges lower

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price edged lower on Friday night. According to CNBC, the spot gold price fell 0.1% to US$1,757.40 an ounce. The precious metal hit a two-week high at one stage after US jobs data fell short of expectations.

Iron ore prices charge higher

BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) shares could have a good day after the spot iron ore price strengthened. According to Metal Bulletin, the benchmark iron ore price jumped 5.4% to US$123.38 a tonne on Friday night.

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

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Why did the Rio Tinto share price struggle in the September 2021 quarter?

2 buy-rated ASX dividend shares with big yields

Here’s what happened to the CSL (ASX:CSL) share price in the FY22 first quarter
3 fantastic ASX growth shares to buy

Why this expert reckons the Woolworths (ASX:WOW) share price is on special

Motley Fool contributor 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 and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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!