ASX 200 shares had a strong start to the week as the S&P/ASX 200 Index (ASX: XJO) jumped 1.10% higher on Monday.
The Resources sector led the benchmark index higher yesterday thanks to strong commodity prices. However, there were more mixed performances across other industries as the market volatility continued.
Find out which ASX 200 shares I’m watching during today’s trade.
2 ASX 200 shares to watch on Tuesday
The BHP Group Ltd (ASX: BHP) share price is one I’m keeping my eye on today. Shares in the Aussie miner jumped 3.09% on Monday thanks to strong iron ore prices, although it has opened today down by 1.68%.
At the time of writing, BHP is worth a whopping $169.1 billion and is the largest ASX 200 share by market capitalisation right now.
Investors could continue to back the Aussie miner in 2020, but I still think its a speculative buy right now with so much uncertainty around trade.
However, there are some tailwinds in the market right now which could push the BHP share price higher. Momentum could be a big factor and I think BHP is one ASX 200 share worth watching today.
Other than BHP, Wesfarmers Ltd (ASX: WES) could be moving. Wesfarmers is an interesting business in a unique position right now.
The Aussie conglomerate is sitting on a pile of cash after selling part of its stake in Coles Group Ltd (ASX: COL) for $1.1 billion. However, it’s not all good news for the ASX 200 share right now.
The group is currently restructuring its retail arm, Kmart Group. In fact, Wesfarmers recently announced the closure of 75 Target stores as sales continue to slump.
Despite opening slightly down this morning, the Wesfarmers share price has still climbed nearly 8% higher this year and is worth keeping on a watchlist. A strong balance sheet is a big plus and provides flexibility to buy more portfolio companies if the right opportunity arises.
Foolish takeaway
There are always many ASX 200 shares worth watching. These are just a couple of the large-caps that I’m keeping an eye during another big day of trade.
Here are 5 more ASX shares that are worth watching in 2020.
NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….
Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.
One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%…
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
More reading
- The big oil price recovery and bounce in ASX oil stocks are bringing out the bears
- 3 ASX shares to buy and hold for the next 2 decades
- Where to invest $5,000 into ASX 200 shares immediately
- 3 ASX 200 resources shares to buy today
- 3 strong ASX dividend shares to buy right now
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post 2 ASX 200 shares to watch on Tuesday appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/36RsALU
Leave a Reply