5 things to watch on the ASX 200 on Monday

Here’s what to expect on Monday…
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 0.7% to 7,362 points.

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

ASX 200 expected to rise

The Australian share market looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.4% higher this morning. This follows a strong end to the week on Wall Street, which saw the Dow Jones rise 1.1%, the S&P 500 climb 0.75%, and the Nasdaq push 0.5% higher.

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 1.2% to US$82.28 a barrel and the Brent crude oil price has risen 1% to US$84.86 a barrel. Oil prices climbed to three-year highs amid supply deficit forecasts.

Rio Tinto named as a buy

The Rio Tinto Limited (ASX: RIO) share price could be in the buy zone according to analysts at Goldman Sachs. In response to its third quarter update, the broker has put a buy rating and $122.40 price target on the mining giant’s shares. It said: “We note the new guidance is in-line with GSe and the Sep Q production was overall in-line or a touch better than GSe.”

Gold price sinks

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could start the week in the red after the gold price tumbled lower on Friday night. According to CNBC, the spot gold price fell 1.7% to US$1,768.30 an ounce. Improving investor sentiment appears to have weighed on the safe haven asset.

Iron ore price falls

BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares will be on watch after the spot iron ore price softened on Friday night. According to Metal Bulletin, the benchmark iron ore price fell 0.5% to US$125.22 a tonne. This iron ore price recorded a small weekly gain during another volatile week.

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

Can the BHP share price hit $56 by the end of 2021?

Top brokers name 3 ASX shares to buy next week

These were the best performing ASX 200 shares last week

These were the worst performing ASX 200 shares last week

Here are the top 10 ASX shares today

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. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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!