On Friday the S&P/ASX 200 Index (ASX: XJO) finished a disappointing week on a positive note. The benchmark index pushed 0.5% higher to 5,242.6 points.
Will there be more of the same on Monday? Here are five things to watch:
ASX 200 expected to jump higher.
The ASX 200 looks set to jump higher on Monday morning after a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 index is expected to open 1.6% or 82 points higher this morning. On Friday on Wall Street the Dow Jones climbed 1.1%, the S&P 500 rose 1.4%, and the Nasdaq index stormed 1.7% higher.
Oil prices pushing higher.
Energy producers including Santos Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be on the rise today after oil prices pushed higher on Friday night. According to Bloomberg, the WTI crude oil price is up 2.7% to US$16.94 a barrel and the Brent crude oil price rose 0.5% to US$21.44 a barrel.
Gold price trades flat.
Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price ended a very positive week in a subdued fashion. According to CNBC, the spot gold price traded flat at US$1,745.70 an ounce. The precious metal ended the period with a weekly gain of around 2.5%.
Steadfast update.
The Steadfast Group Ltd (ASX: SDF) share price will be one to watch on Monday. After the market close on Friday, the insurance broker released a trading update which revealed strong organic and acquisition growth. According to the release, for the first nine months of FY 2020, revenue is up 25.8% to $597.9 million and EBITA is up 21% to $147.9 million. Its EBITA excludes the mark-to-market gain of $3.6 million from its listed investment in the Johns Lyng Group Ltd (ASX: JLG).
Domino's rated as a buy.
The Domino's Pizza Enterprises Ltd. (ASX: DMP) share price could be on the move today after Goldman Sachs reiterated its buy rating on the pizza chain operator's shares. The broker was pleased with its latest update and has lifted its price target up to $62.60. This price target implies potential upside of over 33% including forecast dividends over the next 12 months.
NEW! 5 Cheap Stocks With Massive Upside Potential
Our experts at The Motley Fool have just released a FREE report detailing 5 shares you can buy now to take advantage of the much cheaper share prices on offer. One is a diversified conglomerate trading 40% off it's all time high, all while offering a fully franked dividend yield of over 3%… Another is a former stock market darling that is one of Australia's most popular and iconic businesses. Trading at a significant discount to its 52-week high, not only does this stock offer massive upside potential, but it also trades on an attractive fully franked dividend yield of almost 4%.
Plus, this free report highlights 3 more cheap bets that could position you to profit in 2020 and beyond.
Simply click here to scoop up your FREE copy and discover the names of all 5 cheap shares.
But you will have to hurry because the cheap share prices on offer today might not last for long.
Returns as of 7/4/2020
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Domino's Pizza Enterprises Limited and Steadfast Group Ltd. 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.
