Market outlook
Australian shares are poised to open higher on Monday, following a solid gain on Wall Street that brought some relief after a jittery week of sharp sell-offs. According to SPI futures, the ASX 200 is expected to open 41 points, or 0.45%, higher, as reported by The Motley Fool Australia. ABC Australia similarly noted that ASX 200 futures pointed to a 0.5% rise, citing a figure of 9,028 points.
The positive lead comes after the ASX 200 finished Friday with a small decline, although the two outlets give slightly different figures: ABC Australia reported a fall of 0.3% to 9,059 points, while The Motley Fool Australia recorded a decline of 0.25% to 9,058.9 points.
Wall Street and global markets
On Friday, US markets closed the week on a positive note. The Dow Jones rose 1.0%, while the S&P 500 and the Nasdaq both advanced, with ABC Australia reporting gains of 0.4% for both indices. The Motley Fool Australia listed the S&P 500 and Nasdaq as climbing 0.45% each.
ABC Australia noted that the S&P 500's gain was not enough to erase the index's 1.4% loss over the week, which had been driven by trader worries about rising US interest rates.
European markets also finished higher on Friday, with the Dax, FTSE, and Eurostoxx each gaining 0.6%, according to ABC Australia.
Commodities and currencies
The Australian dollar rose 0.4% to 71.68 US cents, as reported by ABC Australia.
Gold prices moved higher. ABC Australia reported spot gold up 1.9% to US$4,603 per ounce, while The Motley Fool Australia, citing CNBC, said gold futures rose 2.4% to US$4,680.6 per ounce, hitting a three-month high on US dollar weakness.
Oil prices also climbed on Friday night. The Motley Fool Australia, citing Bloomberg, reported WTI crude up 0.25% to US$87.06 per barrel and Brent crude up 0.65% to US$94.39 per barrel, despite reports claiming the Iranian government wants to end the war soon. ABC Australia's figures showed a slightly larger rise in WTI futures (up 0.3%) and a smaller gain in Brent (up 0.6%), but with the same closing prices.
Other commodities: iron ore rose 0.5% to US$96.10 per tonne on Friday, copper (LME) slipped 0.1% to US$14,041 per tonne, and bitcoin edged up 0.1% to US$77,394, according to ABC Australia.
Company news and results
Several ASX-listed companies are scheduled to report results on Monday. ABC Australia listed Adairs, Ampol, Bendigo & Adelaide Bank, Chorus, Data#3, Endeavour, Monash IVF, NIB, Nuix, PLS, Reece, and Ventia Services. The Motley Fool Australia highlighted results from Santos, Woodside, Capricorn Metals, and Northern Star Resources.
In broker news, The Motley Fool Australia reported that Bell Potter downgraded Guzman Y Gomez shares to a hold rating, while raising its price target to $27.30. The broker noted the company's strong comparable sales growth and margin expansion but cited near-term cost headwinds and a consumer slowdown as risks to FY27 guidance.
Energy shares Santos and Woodside could benefit from higher oil prices, while gold producers Capricorn Metals and Northern Star Resources are likely to see a strong start following the jump in the gold price, according to The Motley Fool Australia.