On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week on a positive note. The benchmark index rose 0.6% to 8,250.5 points.
Will the market be able to build on this on Monday? Here are five things to watch:
The Australian share market looks set to rise on Monday following a strong finish to the week on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% higher. In the United States, the Dow Jones was up 0.8%, the S&P 500 rose 0.8%, and the Nasdaq jumped 1.8%.
It looks set to be a decent start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price was up 1.1% to US$73.96 a barrel and the Brent crude oil price was up 0.75% to US$76.51 a barrel. Traders were buying oil on the belief that US and Chinese economic policies will support demand.
It should be a good session for ASX 200 tech shares Block Inc (ASX: SQ2) and Life360 Inc (ASX: 360) on Monday after a solid finish to last week for their US listed shares. Payments company Block Inc rose over 6% on Friday night on the NYSE, whereas location technology company Life360 pushed 1.5% higher on the Nasdaq. This is likely to bode well for tech shares such as WiseTech Global Ltd (ASX: WTC) and Xero Ltd (ASX: XRO) on Monday.
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a relatively poor start to the week after the gold price dropped on Friday night. According to CNBC, the gold futures price was down 0.6% to US$2,652.7 an ounce. A strong US dollar pulled the precious metal down from a three-week high.
Today is a good day for shareholders of Collins Foods Ltd (ASX: CKF). That's because the KFC and Taco Bell restaurant operator will be rewarding eligible shareholders with a fully franked interim dividend of 11 cents per share later today. This is down 12% on the dividend paid out in the prior corresponding period.
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