On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week on a subdued note. The benchmark index fell 0.15% to 7,292.2 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 expected to edge lower
The Australian share market looks set for another subdued day on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 10 points or 0.15% lower this morning. This is a decent result considering the poor start to the week on Wall Street. In late trade the Dow Jones is down 1.5%, the S&P 500 is down 1.45%, and the Nasdaq is 1.6% lower.
Nine secures NRL rights
The Nine Entertainment Co Holdings Ltd (ASX: NEC) share price will be one to watch on Tuesday after it confirmed an agreement for NRL broadcast rights for the 2023 to 2027 seasons. Under this agreement, the live broadcast of NRL matches on Free-To-Air TV will be broadly in line with the current contract, albeit with an extra three matches, due to the expansion of the league. Nine is paying an average of $115 million per annum, which is in line with the prior agreement.
Oil prices fall
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a difficult day after oil prices tumbled again. According to Bloomberg, the WTI crude oil price is down 3.6% to US$68.26 a barrel and the Brent crude oil price has fallen 3% to US$71.31 a barrel. Oil prices fell amid concerns over demand because of the spread of Omicron.
Gold price falls
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a difficult day after the gold price dropped. According to CNBC, the spot gold price is down 0.7% to US$1,792.40 an ounce. The precious metal fell despite Wall Street tumbling overnight.
Westpac dividends
Today is payday for the shareholders of Westpac Banking Corp (ASX: WBC). Eligible shareholders can look forward to receiving the banking giant’s final dividend of FY 2021. Last month Australia’s oldest bank declared a fully franked final dividend of 60 cents per share. This equates to a 2.9% yield based on the current Westpac share price.
The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of August 16th 2021
More reading
- Here are the top 10 ASX shares today
- Sydney Airport (ASX:SYD) share price flat amid ‘subdued’ traffic outlook
- What’s going on with the strange Newcrest (ASX:NCM) share price today?
- These 3 ASX 200 shares are topping the volume charts on Monday
- What experts are saying about the Woolworths (ASX:WOW) share price in 2022
Motley Fool contributor James Mickleboro owns Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/32p1DkR
Leave a Reply