5 things to watch on the ASX 200 on Tuesday

On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a small decline. The benchmark index fell 0.1% to 7,735.8 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 is expected to edge lower on Tuesday following a subdued start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 1 point lower. In late trade in the United States, the Dow Jones is down 0.1%, the S&P 500 is up 0.15%, and the NASDAQ is flat.

Coles goes ex-dividend

Coles Group Ltd (ASX: COL) shares will be going ex-dividend on Tuesday for its upcoming dividend payment and could trade lower. The supermarket giant is paying a fully franked 36 cents per share dividend to shareholders. They can look forward to receiving this pay out later this month on 27 March.

Oil prices fall

ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) could have a poor session after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 1.6% to US$78.72 a barrel and the Brent crude oil price is down 1% to US$82.70 a barrel. This is despite news that OPEC is extending its cuts until mid-2024.

Iron ore price rises

BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) shares will be on watch after the iron ore price rebounded on Monday. The benchmark iron ore price rose 2.1% to US$115.60 a tonne. However, this wasn’t enough to get the miners’ shares into positive territory on Wall Street overnight.

Gold price storms higher

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a great session after the gold price stormed to a three-month high overnight. According to CNBC, the spot gold price is up 1.35% to US$2,124.1 an ounce. This was driven by increasing rate cut hopes.

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

• Want to bank the Rio Tinto dividend? You’ll need to be fast!
• Here are the top 10 ASX 200 shares today
• ASX 200 gold shares are booming on Monday. Here’s why they could keep shining bright
• Is it too late to buy Westpac shares at a fresh 52-week high?
• Want the next BHP dividend? You don’t have long to act

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 positions in and has recommended Coles Group. 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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