5 things to watch on the ASX 200 on Tuesday

On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with the smallest of gains. The benchmark index rose slightly to 7,665.1 points.

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

ASX 200 expected to edge higher

The Australian share market is expected to edge higher on Tuesday despite a mixed start to the week on global markets. According to the latest SPI futures, the ASX 200 is poised to open the day 1 point higher. Wall Street was closed but the FTSE rose 0.2% and the DAX was down 0.15%.

BHP results

BHP Group Ltd (ASX: BHP) shares will be on watch today when the mining giant releases its half-year results. According to a note out of Goldman Sachs, its analysts are expecting the company to report first-half revenue of US$27,595.57 million. This will be an increase of 6.2% over the US$25,982 million that was reported a year ago. As for earnings, the consensus estimate is for US$1.43 per share. This is up 10% on the prior corresponding period.

Oil prices mixed

ASX 200 energy shares including Woodside Energy Group Ltd (ASX: WDS) and Karoon Energy Ltd (ASX: KAR) will be on watch after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.1% to US$79.27 a barrel and the Brent crude oil price is down 0.2% to US$83.30 a barrel. Trading was thin due to the US public holiday.

Megaport results

The Megaport Ltd (ASX: MP1) share price will be on watch today when the elasticity connectivity and network services interconnection provider releases its half year results. The company has already pre-released its results, reporting a 35% increase in revenue to $95 million and EBITDA of $30 million. All eyes will be on its guidance, which was unchanged despite the stronger than expected half.

Gold price rises

ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could rise today after the gold price climbed overnight. According to CNBC, the spot gold price is up 0.25% to US$2,029.4 an ounce. Middle East tensions boosted the safe haven asset.

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

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the top 10 ASX 200 shares today
• This ASX 200 share is predicted to benefit from AI demand for years
• What are the pros and cons of buying BHP shares before the company reports?
• 5 things to watch on the ASX 200 on Monday
• How to build a $1 million superannuation fund

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Megaport. The Motley Fool Australia has recommended Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/MYBLsmq