5 things to watch on the ASX 200 on Tuesday

Here’s what is happening on the market today…
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 positive note. The benchmark index rose 0.6% to 7,384.2 points.

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

ASX 200 expected to fall

The Australian share market is expected to fall on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 43 points or 0.6% lower. This follows a mixed start to the week on Wall Street. The Dow Jones rose 0.2%, the S&P 500 fell 0.3%, and the Nasdaq dropped 0.5%.

Iron ore price continues rebound

Mining giants BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) could have a decent day after iron ore prices continued to rebound. According to Metal Bulletin, the spot iron ore price has risen 7.2% to US$119.31 a tonne.

Oil prices rise

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could push higher today after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 2% to US$75.44 a barrel and the Brent crude oil price has risen 1.7% to US$79.41 a barrel. Supply constraints are supporting oil prices. In other news, Beach announced a deal with BP after the market close on Monday.

Gold price softens

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price softened. According to CNBC, the spot gold price is down 0.1% to US$1,750.4 an ounce. The precious metal fell due to a stronger dollar and higher bond yields.

Dividends being paid

It is pay day for the shareholders of a number of ASX 200 shares. Paying their dividends today are the likes of Altium Limited (ASX: ALU), Amcor CDI (ASX: AMC), Coles Group Ltd (ASX: COL), and Evolution Mining.

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

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

More reading

Why the Beach Energy (ASX:BPT) share price will be in focus on Tuesday
Here are the top 10 ASX shares today

These 3 ASX 200 shares are topping the volume charts today

September hasn’t been a great month so far for the Coles (ASX:COL) share price
Why AVZ, Flight Centre, Fortescue, & Sigma shares are storming higher

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. owns shares of and has recommended Altium. The Motley Fool Australia owns shares of and has recommended Altium, Amcor Limited, and COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!