5 things to watch on the ASX 200 on Tuesday

On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in a disappointing fashion. The benchmark index fell 0.3% to 6,719.9 points.

Will the market be able to bounce back from this on Tuesday? Here are five things to watch:

ASX 200 expected to rebound

The Australian share market is expected to rebound on Tuesday following a solid start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 52 points or 0.8% higher. In the United States, the Dow Jones rose 0.65%, the S&P 500 was up 0.7%, and the NASDAQ climbed 0.75%.

Tech shares on watch

It could be a decent day for ASX 200 tech shares such as WiseTech Global Ltd (ASX: WTC) and Xero Limited (ASX: XRO) after their US counterparts stormed higher on Monday night. The tech focused NASDAQ index rose 0.75%. Investors appear to believe recent weakness has created a buying opportunity. Though, with the US Federal Reserve meeting this week, it could be a volatile few days.

Oil prices edge higher

It could be a decent day for energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up 0.5% to US$85.53 a barrel and the Brent crude oil price has risen 0.55% to US$91.84 a barrel. Supply uncertainty outweighed demand concerns and boosted prices.

Coal dividends being paid

Coal miners Coronado Global Resources Inc (ASX: CRN) and Yancoal Australia Ltd (ASX: YAL) will be paying their respective shareholders a share of their bumper coal profits later today. Coronado is paying a 7.6 cents per share dividend and Yancoal is paying a 52.7 cents per share dividend to shareholders.

Gold price flat

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued day after the gold price traded flat overnight. According to CNBC, the spot gold price is fetching US$1,683.6 an ounce. The gold price is trading near a 29-month low ahead of the US Fed’s meeting.

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

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More reading

• 3 ASX energy stocks up more than 100% so far this year
• 5 ASX energy shares powering portfolios with the highest dividend yields
• Broker names 2 of the best ASX shares to buy now
• These are the top ASX 100 buy ideas from Macquarie
• 5 things to watch on the ASX 200 on Monday

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 positions in and has recommended WiseTech Global and Xero. The Motley Fool Australia has positions in and has recommended WiseTech Global and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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