Appen Ltd (ASX:APX) and Santos Ltd (ASX:STO) shares will be on watch on the ASX 200 on Tuesday. Here’s what to look out for…
The post 5 things to watch on the ASX 200 on Tuesday appeared first on Motley Fool Australia. –
On Monday the S&P/ASX 200 Index (ASX: XJO) was out of form and started the week with a small decline. The benchmark index fell 0.2% to 5,952.3 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 expected to storm higher.
The ASX 200 looks set to storm higher on Tuesday after a very positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 37 points or 0.6% higher this morning. On Wall Street the Dow Jones rose 1.5%, the S&P 500 climbed 1.6%, and the Nasdaq stormed a sizeable 1.9% higher.
Tech shares likely to rise.
It is starting to look like the tech rout on Wall Street is finally over. This follows a second consecutive night of strong gains for the tech-focused Nasdaq index. This could mean it will be a positive day for locally listed tech shares such as Appen Ltd (ASX: APX) and Xero Limited (ASX: XRO) on Tuesday.
Oil prices rise.
It could also be a good day for energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) on Tuesday after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.9% to US$40.61 a barrel and the Brent crude oil price has risen 1.3% to US$42.48 a barrel. Global economic recovery hopes supported oil prices.
Gold price rebounds.
The shares of Evolution Mining Ltd (ASX: EVN), Northern Star Resources Ltd (ASX: NST), and other gold miners could be on the rise today after the gold price rebounded. According to CNBC, the spot gold price is up 1.15% to US$1,887.60 an ounce on Friday night. This follows the softening of the U.S. dollar on Monday.
Coles Group Ltd (ASX: COL) becomes the first of a number of blue chip shares paying their shareholders dividends this week. The supermarket giant is scheduled to pay eligible shareholders a 27.5 cents per share fully franked final dividend today. Elsewhere, a large number of REITs are going ex-dividend this morning and are likely to trade lower.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of Appen Ltd and COLESGROUP DEF SET. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.