On Monday, the S&P/ASX 200 Index (ASX: XJO) fought hard but ended the day in the red. The benchmark index fell 0.25% to 6,971.6 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 futures flat
The Australian share market could have a good day on Tuesday despite SPI futures currently pointing to a flat day ahead. This is because Wall Street is on fire in late trade with the Dow Jones up 0.8%, the S&P 500 up 1.5%, and the Nasdaq up a sizeable 2.7%. The Reserve Bank’s impending meeting could be having some impact on sentiment.
Credit Corp half year results
The Credit Corp Group Limited (ASX: CCP) share price will be on watch today when it releases its half year results. According to CommSec, the market is expecting the debt collection company to deliver a half year profit of $42.7 million and an interim dividend of 38 cents per share.
Oil prices rise
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a good day after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 1.3% to US$87.98 a barrel and the Brent crude oil price has risen 1.3% to US$91.23 a barrel. Oil prices rose on geopolitical risks and supply concerns.
Gold price higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a decent day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.7% to US$1,799.30 an ounce. Despite this gain, the gold price is on course to have its worst month since September.
PointsBet shares rated as a buy
The PointsBet Holdings Ltd (ASX: PBH) share price could be a bit of a bargain according to the team at Goldman Sachs. According to a note this morning, the broker has reiterated its buy rating on the sports betting company’s shares with a trimmed price target of $9.97. Goldman continues to believe that PointsBet is “on track for transformational year ahead.”
The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.
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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. owns and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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