5 things to watch on the ASX 200 on Tuesday

On Monday, the S&P/ASX 200 Index (ASX: XJO) once again started the week in a disappointing fashion. The benchmark index fell 1.6% to 6,469.4 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 despite a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 31 points or 0.5% higher. In the United States, the Dow Jones fell 1.1%, the S&P 500 was down 1%, and the NASDAQ dropped 0.6%. The S&P 500 closed at its lowest level in 2022.

Oil prices fall again

It could be a tough day for energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices dropped again overnight. According to Bloomberg, the WTI crude oil price is down 2.3% to US$76.87 a barrel and the Brent crude oil price has fallen 2.3% to US$84.18 a barrel. A strong dollar and recession fears weighed on prices.

Dividends being paid

A number of popular ASX 200 shares are paying their shareholders their latest dividends on Tuesday. This includes energy company AGL Energy Limited (ASX: AGL), electronic design software provider Altium Limited (ASX: ALU), and supermarket giant Woolworths Group Ltd (ASX: WOW). The latter is paying its shareholders a fully franked 53 cents per share dividend.

Miners on watch

Beaten down mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) will be on watch today after their US listed shares dropped into the red again on Wall Street overnight. This appears to have been driven by a combination of recession fears and iron ore price weakness. In respect to the latter, according to Metal Bulletin, the benchmark iron ore price fell 3.5% to US$96.05 a tonne.

Gold price continues to slide

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a difficult day after the gold price continued to slide overnight. According to CNBC, the spot gold price is down 1.4% to US$1,632.6 an ounce. The gold price is now trading at a two and a half year low.

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

• Despite all the recent noise, is it business as usual for AGL shares?
• Here are the top 10 ASX 200 shares today
• Why is the Woolworths share price having such a stellar run on Monday?
• Why BHP, Costa, Link, and Syrah shares are dropping
• Why Altium, Greenwing, Superloop, and Universal Store shares are racing higher

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 Altium. The Motley Fool Australia has no position in any of the stocks mentioned. 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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