On Monday, the S&P/ASX 200 Index (ASX: XJO) overcame a tough start to record a decent gain. The benchmark index rose 0.4% to 7,243.9 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
ASX 200 futures pointing lower
The Australian share market is expected to open the day sharply lower this morning 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 105 points or 1.5% lower. In late trade on Wall Street, the Dow Jones is down 1.2%, the S&P 500 is down 1.1%, and the Nasdaq has fallen 0.8%.
BHP half year results
The BHP Group Ltd (ASX: BHP) share price will be in focus on Tuesday when it releases its half year results. According to a note out of Morgans, its analysts are forecasting underlying EBITDA of US$17,371 million and a US$1.26 cents per share interim dividend. Elsewhere, according to CommSec, the market consensus is for a net profit after tax of US$9.8 billion.
Oil prices rise again
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 again. According to Bloomberg, the WTI crude oil price is up 2.45% to US$95.38 a barrel and the Brent crude oil price has risen 2% to US$96.37 a barrel. Ukraine-Russia tensions are supporting the oil price.
Gold price higher
Those tensions are also supporting the gold price, which bodes well for gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) on Tuesday. According to CNBC, the spot gold price is up 1.7% to US$1,873.40 an ounce. This means the precious metal is trading near three-month highs.
SEEK half year results
The SEEK Limited (ASX: SEK) share price will also be on watch today when it releases its half year results. According to a note out of Morgans, its analysts are expecting the job listings giant to report revenue of $534 million and EBITDA of $260 million. This is 10% and 13%, respectively, ahead of the market consensus estimate.
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 owns SEEK Limited. 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 recommended SEEK Limited. 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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