5 things to watch on the ASX 200 on Tuesday

Afterpay Ltd (ASX:APT) and Carsales.Com Ltd (ASX:CAR) shares will be on watch on the ASX 200 on Tuesday. Here’s what you need to know…
The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia. –

ASX share

On Monday the S&P/ASX 200 Index (ASX: XJO) fought back from a poor start to record a solid gain. The benchmark index rose 0.65% to 6,752.5 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 looks set to edge lower today despite strong gains being recorded in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 12 points or 0.2% lower this morning. In late trade on Wall Street, the Dow Jones is up 0.55%, the S&P 500 is up 1%, and the Nasdaq is trading 1.6% higher. A pullback in bond yields gave equities a boost.

Tech shares could jump

It could be a good day for ASX tech shares such as Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) on Tuesday after US tech stocks stormed higher overnight following a pullback in bond yields. US giants Apple, Facebook, and Tesla are all recording solid gains and helping to drive the tech-focused Nasdaq index 1.6% higher. As the local tech sector has a tendency of following the Nasdaq’s lead, this bodes well for Tuesday’s trade.

Oil prices edge higher

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) will be on watch after oil prices edged higher. According to Bloomberg, the WTI crude oil price is up 0.1% to US$61.47 a barrel and the Brent crude oil price has risen 0.1% to US$64.58 a barrel. Oil prices edged higher despite concerns about European lockdowns and their impact on demand.

Gold price lower

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued day after the gold price edged lower despite bond yields falling. According to CNBC, the spot gold price is down 0.1% to US$1,739.70 an ounce. A switch to risk on assets weighed on the safe haven asset.

Carsales goes ex-dividend

The Carsales.Com Ltd (ASX: CAR) share price is going ex-dividend this morning and could trade lower. The auto listings giant will then be paying its fully franked 25 cents per share interim dividend to eligible shareholders next month on 21 April. Elsewhere, BHP Group Ltd (ASX: BHP) shareholders can look forward to being paid its $1.31 per share dividend later today.

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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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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