On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a very positive fashion. The benchmark index rose 1.05% to 7,251.2 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 edge lower
The Australian share market is expected to give back some of Friday's gains today following a poor finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points lower on Monday. In the United States, the Dow Jones was down 0.3%, the S&P 500 fell 0.4%, and NASDAQ dropped 0.7%.
Oil prices charge higher
It looks set to be a good start to the week for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price was up 1.6% to US$71.78 a barrel and the Brent crude oil price rose 1.25% to US$76.61 a barrel. Supply cuts offset demand concerns.
Breville rated as a buy
Breville Group Ltd (ASX: BRG) shares could be good value according to analysts at Goldman Sachs. This morning, the broker has retained its buy rating with a trimmed price target of $22.50. Although it has reduced its estimates to reflect a tough consumer environment, Goldman is still forecasting a "9.0% EPS CAGR" through to FY 2025.
Gold price flat
ASX 200 gold shares Bellevue Gold Ltd (ASX: BGL) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price traded relatively flat on Friday night. According to CNBC, the spot gold price was steady at US1,971.2 per ounce. Traders appear uncertain where the US Fed is going next with rates.
Core Lithium named as a sell
The Core Lithium Ltd (ASX: CXO) share price remains overvalued according to Goldman Sachs. Its analysts have been looking over lithium prices again and believe they will fall materially next year. As a result, the broker has retained its sell rating and 95 cents price target on the lithium miner's shares.
