On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a very small gain. The benchmark index rose 4.7 points to 7,351.5 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
ASX 200 expected to fall
The Australian share market looks set to give back yesterdayâs gains and more on Tuesday following a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 28 points or 0.35% lower. In late trade in the United States, the Dow Jones is up 0.4%, but the S&P 500 is down 0.3% and the NASDAQ is down 0.6%.
Oil prices rise
Energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent day after oil prices stormed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.15% to US$77.22 a barrel and the Brent crude oil price is up 1.2% to US$83.99 a barrel. Traders appear to believe oil prices were oversold after another heavy decline last week.
Altium half-year result
The Altium Limited (ASX: ALU) share price will be one to watch on Tuesday. This follows the release of the electronic design software companyâs half year results after the market close on Monday. Altium reported a 17% increase in revenue to US$119.5 million and a 30% jump in net profit after tax to US$29.6 million. Goldman Sachs commented: âIn-line result drives minor changes; pricing and Octopart yield offset weaker than expected volumes.â
Gold price edges higher
It could be a subdued day for gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) after the gold price edged ever so slightly higher overnight. According to CNBC, the spot gold price is up a fraction to US$1,850.3 an ounce. Traders appear unsure where gold is heading next given the outlook for interest rates.
Seek results
The Seek Ltd (ASX: SEK) share price will be in focus today when the job listings giant releases its half year results. According to CommSec, the market is expecting the company to report a net profit after tax of $159.7 million and declare an interim dividend of 34 cents per share.
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
- Altium share price on watch following strong first half growth
- Here are the top 10 ASX 200 shares today
- Here are the 3 most heavily traded ASX 200 shares on Monday
- Hoping to pocket the next CBA dividend? Here’s what you need to do
- Are Qantas shares a buy ahead of this week’s ASX results announcement?
Motley Fool contributor James Mickleboro has positions in Altium and Seek. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium. The Motley Fool Australia has recommended Seek. 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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