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5 things to watch on the ASX on Tuesday

On Monday the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) started the week with a solid 0.5% push higher to 5,982.7 points.

Will the index be able to build on this and break through the 6,000 points mark on Tuesday? Here are five things that may shape the day ahead:

ASX futures are pointing lower.

According to the latest SPI futures, the Australian share market is poised to open Tuesday down 19 points or 0.3% following declines in U.S. markets overnight. The Dow Jones fell 0.6%, the S&P 500 tumbled 0.8%, and the NASDAQ was also down by 0.8%.

ANZ is due to release its earnings.

This morning Australia and New Zealand Banking Group (ASX: ANZ) will report its half-year results to the market. According to Goldman Sachs, the broker expects the bank to report cash earnings from continued operations (pre-NRIs) of $3,398 million, up 1.3% on the prior corresponding period. The broker also expects ANZ Bank to declare an 80 cents per share interim dividend, which is flat on the prior corresponding period.

Investor day for Aristocrat Leisure.

Aristocrat Leisure Limited (ASX: ALL) is due to hold its investor day at its offices in Sydney today. Often the company will take this opportunity to provide the market with a trading update. According to Goldman Sachs, it will be looking out for net profit after tax guidance of $711 million, up 30.7% on the prior corresponding period.

Reserve Bank meeting.

Later this morning the Reserve Bank of Australia will meet to discuss the cash rate. While this meeting will almost certainly result in rates being kept on hold at the record low of 1.5% for a 19th straight meeting, the market will be looking to see if governor Lowe adds any colour on future expectations in his announcement.

Oil prices rose overnight.

Energy producers such as Beach Energy Ltd (ASX: BPT), BHP Billiton Limited (ASX: BHP) and Oil Search Limited (ASX: OSH) could have a strong day of trade after oil prices rose again. Brent crude oil rose 0.8% to US$75.20 a barrel and WTI crude oil climbed 0.4% to US$68.40 a barrel overnight.

I think BHP looks good right now along with these high flying buy-rated blue chip shares.

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

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