On Monday, the S&P/ASX 200 Index (ASX: XJO) fought hard but ended the day in the red. The benchmark index fell 0.1% to 7,110.8 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 futures pointing slightly higher
The Australian share market is expected to open the day slightly higher this morning following a positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 5 points or 0.1% higher. On Wall Street, the Dow Jones is up 0.55%, the S&P 500 is up 0.3%, and the Nasdaq has risen 0.3%.
Macquarie’s operational briefing
The Macquarie Group Ltd (ASX: MQG) share price will be in focus on Tuesday when it releases its operational briefing. This will include an update on the investment bank’s performance during the third quarter of FY 2022. Macquarie is widely expected to have benefited greatly from booming commodity prices.
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 dropped. According to Bloomberg, the WTI crude oil price is down 1.1% to US$91.33 a barrel and the Brent crude oil price has fallen 0.5% to US$92.80 a barrel. Oil prices fell amid positive sanction talks between the US and Iran.
Gold price higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.8% to US$1,822.60 an ounce. The gold price rose after inflation risks boosted its appeal.
Suncorp half year results
The Suncorp Group Ltd (ASX: SUN) share price will be on watch today when its releases its half year results. According to a note out of Morgans, its analysts expect the banking and insurance giant to deliver a first half net profit after tax of $300 million. This is ahead of the market consensus estimate of $286 million.
The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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