On Friday the S&P/ASX 200 Index (ASX: XJO) finished the week on a very positive note. The benchmark index pushed 1.3% higher to 5,487.5 points.
Will there be more of the same on Monday? Here are five things to watch:
ASX 200 expected to open higher.
The S&P/ASX 200 index looks set to start the week in the black. According to the latest SPI futures, the ASX 200 is expected to open the day 1 point higher. This follows a positive end to the week on Wall Street. The Dow Jones climbed over 700 points or 3%, the S&P 500 rose 2.7%, and the Nasdaq index pushed 1.4% higher.
WTI oil price tumbles lower.
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch today following a poor end to the week for oil prices. According to Bloomberg, the WTI crude oil price crashed a further 8.1% lower to US$18.27 a barrel. Things were better for the Brent crude oil price which rose 0.8% to US$28.08 a barrel. Demand concerns continue to weigh on oil prices.
Sydney Airport traffic update.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price will be on watch on Monday when it releases its traffic date for the month of March. The operator of Australia's busiest airport is expected to report an extremely sharp reduction in passenger numbers due to travel restrictions because of the coronavirus pandemic.
Gold price sinks lower.
Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could come under pressure today after the gold price sank lower. According to CNBC, the spot gold price fell 2.15% to US$1,694.50 an ounce. Coronavirus treatment hopes and plans for a restart of the U.S. economy boosted risk sentiment.
South32 quarterly update.
Hot on the heels of the strong quarterly update from Rio Tinto Limited (ASX: RIO) last week, fellow mining giant South32 Ltd (ASX: S32) will be releasing its third quarter update this morning. With its shares down 42% from their 52-week high, expectations don't appear to be high for this particular update.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sydney Airport Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
