On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a subdued fashion. The benchmark index rose by a modest 1.7 points to 7,114.5 points.
Will the market be able to build on this on Monday? Here are five things to watch:
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ASX 200 expected to fall
The Australian share market looks set to fall on Monday following a poor night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 29 points or 0.4% lower this morning. On Wall Street, the Dow Jones was down 0.85%, the S&P 500 dropped 1.3%, and the NASDAQ tumbled 2%.
Oil prices rise
Energy producers Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) will be on watch after oil prices edged higher on Friday. According to Bloomberg, the WTI crude oil price is up 0.3% to US$90.77 a barrel and the Brent crude oil price rose 0.1% to US$96.72 a barrel. However, this couldn't stop oil prices from recording weekly declines.
NIB results
The NIB Holdings Limited (ASX: NHF) share price will be one to watch on Monday when the private health insurer releases its full year results. According to CommSec, the market is expecting the company to report a net profit after tax of $131 million. This is expected to underpin a final dividend of 9.5 cents per share.
Gold price falls
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a tough start to the week after the gold price dropped on Friday night. According to CNBC, the spot gold price was down 0.6% to US$1,760.30 an ounce. A strong US dollar put pressure on the precious metal last week, leading to five daily declines out of five. This is its longest losing run since November.
Cochlear rated as a buy
The Cochlear Limited (ASX: COH) share price could be heading higher from here according to analysts at Goldman Sachs. This morning the broker has reiterated its buy rating and lifted its price target on the hearing solutions company's shares to $247.00. Goldman is feeling confident on Cochlear's outlook, noting that it sees "clear scope for COH to deliver at the upper-end of another solid guidance (+8-13% to $290-305m)."
