5 things to watch on the ASX 200 on Monday

Here's what to watch on the ASX 200 on Monday.

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On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week with a small gain. The benchmark index rose 0.1% to 7,203.3 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market is expected to open the week higher following a solid finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 29 points or 0.35% higher on Monday. In the United States, the Dow Jones was up 0.85%, the S&P 500 rose 1.2%, and NASDAQ jumped 1.45%.

Oil prices climb

It looks set to be a decent start to the week for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price was up 1.1% to US$70.64 a barrel and the Brent crude oil price rose 1.2% to US$75.41 a barrel. This was driven by a U.S. Commerce Department report showing annual inflation rising at its slowest pace in two years.

Allkem still a buy

The Allkem Ltd (ASX: AKE) share price could keep rising from here according to analysts at Goldman Sachs. In its weekly lithium summary, the broker has retained its buy rating and $17.20 price target on the lithium miner's shares. This compares to the current Allkem share price of $16.02.

Gold price rises

ASX 200 gold shares Bellevue Gold Ltd (ASX: BGL) and Northern Star Resources Ltd (ASX: NST) could have a positive start to the week after the gold price rose on Friday night. According to CNBC, the spot gold price was up 0.6% to US1,929.4 an ounce. A moderate inflation reading provided support for the precious metal on Friday.

Dividends being paid

A number of ASX 200 shares will be paying their dividends today. This includes gaming technology company Aristocrat Leisure Limited (ASX: ALL), banking giant ANZ Group Holdings Ltd (ASX: ANZ), building products company CSR Limited (ASX: CSR), and commercial explosives company Orica Ltd (ASX: ORI). ANZ is paying its shareholders a fully franked 81 cents per share dividend.

Motley Fool contributor James Mickleboro has positions in Allkem. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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