5 things to watch at the ASX 200 on Monday, August 22, 2022

A male investor wearing a white shirt and blue suit jacket sits at his desk looking at his laptop with his hands to his chin, waiting in anticipation.

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On Friday, the S&P/ASX 200 Index (ASX:XJO) ended the week in a moderate way. The benchmark index rose a modest 1.7 points to 7,114.5 points.

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

ASX 200 expected to drop

The Australian stock market looks set to drop on Monday after a bad night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 29 points or 0.4% lower this morning. On Wall Street, the Dow Jones was down 0.85%, the S&P 500 was down 1.3% and the NASDAQ was down 2%.

Oil prices rise

energy producers Santos Ltd. (ASX:STO) and Woodside Energy Group Ltd (ASX: WDS) will be watching after oil prices rose on Friday. According to Bloomberg, the price of WTI crude rose 0.3% to $90.77 a barrel and the price of Brent crude rose 0.1% to $96.72 a barrel. However, this could not prevent oil prices from posting weekly declines.

NIB results

the NIB Holdings Limited (ASX: NHF) share price will be one to watch on Monday when the private health insurer releases its annual results. According to CommSec, the market expects the company to report an after-tax net profit of $131 million. This is expected to support a final dividend of 9.5 cents per share.

the price of gold falls

gold miners Newcrest Mining Limited (ASX:NCM) and Northern Star Resources Ltd (ASX: NST) could have a rough start to the week after the price of gold fell on Friday night. According to CNBC, the spot price of gold fell 0.6% to $1,760.30 an ounce. A strong US dollar put pressure on the precious metal last week, causing five out of five daily declines. This is his longest losing streak since November.

Cochlear rated as a purchase

the limited cochlear (ASX:COH) share price could rise from here according to analysts at Goldman Sachs. This morning, the broker reiterated a buy rating on him and raised his price target for the hearing solutions company stock to $247.00. Goldman is confident in Cochlear’s outlook, noting that it sees “clear scope for COH to deliver at the top end of another solid guidance (+8-13% to $290-305 million).”

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