Insights

5 things to watch on the ASX 200 on Tuesday

Domain Holdings Australia Ltd (ASX:DHG) and Oil Search Limited (ASX:OSH) shares will be on watch on the ASX 200 on Tuesday…
The post 5 things to watch on the ASX 200 on Tuesday appeared first on Motley Fool Australia. –

Investor with stock market graph hitting new all-time high

On Monday the S&P/ASX 200 Index (ASX: XJO) continued its impressive run and stormed higher. The benchmark index rose 1.75% to 6,298.8 points.

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

ASX 200 poised to surge higher.

It looks set to be a great day of trade for the Australian share market amid positive vaccine news in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day a massive 179 points or 2.8% higher this morning. In late trade on Wall Street the Dow Jones is up 4.75%, the S&P 500 has climbed 3%, and the Nasdaq is up 0.5%.

Pfizer vaccine more than 90% effective.

The catalyst for the strong gains on Wall Street has been a COVID-19 vaccine update by healthcare giant Pfizer. According to its announcement, the vaccine candidate was found to be more than 90% effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis. The study enrolled 43,538 participants, with 42% having diverse backgrounds, and no serious safety concerns have been observed.

Oil prices jump higher.

It could be a very positive day for energy producers such as Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) after the vaccine news sent oil prices hurtling higher. According to Bloomberg, the WTI crude oil price jumped 8.8% higher to US$40.40 a barrel and the Brent crude oil price is up 7.7% to US$42.50 a barrel.

Gold price crashes lower.

Safe haven assets like gold took a big hit overnight after investor sentiment improved materially. This could be bad news for gold miners including Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) on Tuesday. According to CNBC, the spot gold price has sunk 4.65% lower to US$1,861.40 an ounce.

Domain AGM.

The Domain Holdings Australia Ltd (ASX: DHG) share price will be on watch on Tuesday when it holds its virtual annual general meeting. The property listings company is likely to release a trading update with its presentation. Expectations are high after rival REA Group Limited (ASX: REA) smashed expectations with its first quarter update last week.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks 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.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. 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.

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

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!