It looks set to be another big day for the ASX 200…
The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia. –
On Monday the S&P/ASX 200 Index (ASX: XJO) started the week on a disappointing note. The benchmark index finished the day 0.6% lower at 7,582.5 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 expected to rise
It looks set to be a better day of trade for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% higher this morning. This follows a reasonably positive start to the week on Wall Street, which saw the Dow Jones rise 0.3%, the S&P 500 climb 0.25%, but the Nasdaq drop 0.2% higher.
The BHP Group Ltd (ASX: BHP) share price will be on watch today when it releases its full year results. According to a note out of Goldman Sachs, its analysts expect the mining giant to report underlying EBITDA of US$37.2 million for FY 2021. This is expected to underpin a US$2.89 per share fully franked dividend.
Oil prices fall
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be in the red today after oil prices dropped again. According to Bloomberg, the WTI crude oil price is down 1.5% to US$67.42 a barrel and the Brent crude oil price has fallen 1.3% to US$69.65 a barrel. A faltering demand outlook in China is weighing on prices. Woodside is also due to release its results today.
Gold price rises
It could be a decent day for gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) after the gold price pushed higher. According to CNBC, the spot gold price is up 0.6% to US$1,789 an ounce. Easing bond yields in the United States supported the price of the precious metal.
Breville Group Ltd (ASX: BRG) shares could be on the move today when it hands in its full year results. The appliance manufacturer has been a strong performer in FY 2021 and is guiding to earnings before interest and tax (EBIT) of approximately $136 million for the year. This compares to normalised EBIT of $113.1 million in FY 2020.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of August 16th 2021
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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.