Insights

5 things to watch on the ASX 200 on Tuesday

The ASX 200 looks set to have a tough day…
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 in a disappointing fashion. The benchmark index fell 0.5% to 7,139.5 points.

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

ASX 200 expected to sink again

The Australian share market looks set to continue its decline on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 173 points or 2.45% lower this morning. This follows a very poor start to the week on Wall Street, which in late trade sees the Dow Jones down 1.8%, the S&P 500 down 2.1%, and the Nasdaq down 2%.

Fortescue’s quarterly update

The Fortescue Metals Group Limited (ASX: FMG) share price will be on watch today when it releases its quarter update. All eyes will be on the mining giant’s costs and the discount its low grade product is being sold for compared to the benchmark iron ore price. In respect to the latter, Goldman Sachs sees price realisations dropping to 68% from 73% in the previous quarter.

Oil prices fall

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a difficult day after oil prices pulled back. According to Bloomberg, the WTI crude oil price is down 2.2% to US$83.30 a barrel and the Brent crude oil price has fallen 1.8% to US$86.28 a barrel. A stronger dollar weighed on prices.

Gold price edges higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a better day after the gold price edged higher. According to CNBC, the spot gold price is up 0.5% to US$1,839.90 an ounce. This appears to have been driven by demand for safe haven assets amid tensions in Ukraine and market volatility.

South32 shares rated as a buy

The South32 Ltd (ASX: S32) share price remains a conviction buy with an improved price target of $4.90 according to the team at Goldman Sachs. This follows the release of its quarterly update on Monday. While Goldman was slightly disappointed with its higher costs, it notes that this was offset by higher prices.

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 over ten 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 January 12th 2022

More reading

3 top ASX shares to buy in 2022

Why AGL (ASX:AGL), Origin (ASX:ORG) shares tumbled today?

Here are the top 10 ASX shares today

Here are the 3 most heavily traded ASX 200 shares this Monday

Why are these beaten-up small cap ASX tech shares seeing 52-week lows today?

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.

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.

  • This field is for validation purposes and should be left unchanged.

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 - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US & HK* Trades. Click Here!