5 things to watch on the ASX 200 on Tuesday

On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in a disappointing fashion. The benchmark index fell 1.4% to 6,664.4 points.

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

ASX 200 expected to rebound

The Australian share market looks set to rebound strongly today after a great start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 55 points or 0.8% higher. In late trade in the United States, the Dow Jones is up 2%, the S&P 500 is up 2.7%, and the NASDAQ is storming 3.4% higher.

Oil prices mixed

Energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be on watch today after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is down 0.1% to US$85.54 a barrel and the Brent crude oil price has risen 0.1% to US$91.69 a barrel. Recession fears were largely offset by optimism over loose monetary policy in China.

Rio Tinto update

The Rio Tinto Limited (ASX: RIO) share price will be in focus today when the mining giant releases its quarterly update. According to a note out of Goldman Sachs, its analysts are expecting Rio Tinto to report iron ore shipments of 83.4Mt. This is a touch lower than the consensus estimate of 84.5Mt. The market is sldo likely to be looking for commentary on cost inflation today as well.

Annual general meetings galore

A number of ASX 200 companies will be holding their annual general meetings today and are likely to provide trading updates. These include logistics solutions company Brambles Limited (ASX: BXB), hearing solutions company Cochlear Limited (ASX: COH), language testing company IDP Education Ltd (ASX: IEL), and wine giant Treasury Wine Estates Ltd (ASX: TWE).

Gold price rises

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.35% to US$1,654.7 an ounce. The precious metal rose after the US dollar and treasury yields pulled back.

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

• Here are the top 10 ASX 200 shares today
• Why are these ASX 200 lithium shares smashing it on Monday?
• Star Entertainment share price halted amid $100m fine and casino license suspension
• Own Rio Tinto shares? Here’s what to expect from the mining giant’s Q3 update
• 3 ASX 200 shares that turned a $5,000 investment into $1 million

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 positions in and has recommended Cochlear Ltd. and Idp Education Pty Ltd. The Motley Fool Australia has recommended Cochlear Ltd. and Treasury Wine Estates Limited. 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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