On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week at a record high close. The benchmark index rose 1.1% to 7,847 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 tumble
The Australian share market looks set to fall on Monday following a pullback on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 47 points or 0.6% lower. On Friday on Wall Street, the Dow Jones was down 0.2%, the S&P 500 fell 0.65%, and the Nasdaq dropped 1.15%.
Oil prices pullback
ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor start to the week after oil prices dropped on Friday night. According to Bloomberg, the WTI crude oil price was down 1.2% to US$78.01 a barrel and the Brent crude oil price was down 1.1% to US$82.08 a barrel. This follows the release of weak economic data out of China.
Telix shares named as a buy
The Telix Pharmaceuticals Ltd (ASX: TLX) share price could be good value according to analysts at Bell Potter. This morning, the broker has retained its buy rating on the radiopharmaceuticals company's shares with an improved price target of $14.50. Bell Potter believes that its latest acquisition of ARTMS can drive margin expansion.
Gold price hits new high
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a great start to the week after the gold price stormed to a new high on Friday. According to CNBC, the spot gold price was up 0.95% to US$2,185.5 an ounce. The release of strong US jobs data supported rate cut hopes.
Shares going ex-dividend
A number of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes coal miner Coronado Global Resources Inc (ASX: CRN) biotech giant CSL Ltd (ASX: CSL), hospital operator Ramsay Health Care Ltd (ASX: RHC), and media company Seven Group Holdings Ltd (ASX: SVH).
