On Friday the S&P/ASX 200 Index (ASX: XJO) finished a positive week on a subdued note. The benchmark index fell 0.4% to finish the period at 7,353.5 points.
Will the market be able to bounce back from this on Monday? Here are five things to watch:
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ASX 200 expected to rise
The Australian share market looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% higher this morning. This follows a positive end to the week on Wall Street, which saw the Dow Jones rise 0.6%, the S&P 500 climb 0.95%, and the Nasdaq push 0.7% higher.
Oil prices higher
Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch after oil prices finished the week on a positive note. According to Bloomberg, the WTI crude oil price rose 1% to US$71.67 a barrel and the Brent crude oil price rose 1% to US$75.15 a barrel. Oil prices had their best week in months, rising 8% over the period as omicron concerns eased.
Iron ore price softens
The Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) shares will be on watch after the iron ore price softened. According to Metal Bulletin, the benchmark spot iron ore price edged 0.5% to US$108.03 a tonne.
Gold price higher
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could start the week on a positive note after the gold price pushed higher on Friday night. According to CNBC, the spot gold price rose 0.45% to US$1,784.80 an ounce. The gold price pushed higher
CSL acquisition coming?
The CSL Limited (ASX: CSL) share price will be on watch today amid reports the biotherapeutics company is getting closer to finalising a $10 billion deal for Swiss-based Vifor Pharma. CSL has previously been tipped to partly fund the deal with a $4 billion equity raising. Vifor Pharma is a leader in iron deficiency, nephrology and cardio-renal therapies.
