5 things to watch on the ASX on Tuesday

On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) started the week with a 0.2% decline to 6,210.4 points.

Will the benchmark index be able to bounce back strongly on Tuesday? Here are five things that could impact proceedings:

The Australian share market set to open notably lower.

The local market is expected to open the day lower on Tuesday. According to the latest SPI futures, the market is poised to open 0.9% or 56 points lower today. This follows a disappointing night of trade on Wall Street and in Europe. London’s FTSE 100 fell over 2%, the Dow Jones Industrial Average dropped 1.3%, the S&P 500 fell 1.4%, and the NASDAQ tumbled 2.1%. The latter could lead to Australian tech shares coming under pressure today.

Collins Foods results due to be released.

KFC operator Collins Foods Ltd (ASX: CKF) is expected to release its full-year results this morning. According to Bloomberg, the market is expecting the fast food company to deliver earnings per share of 35.2 cents. As well as its earnings, investors will be taking a close look at how its European expansion is faring. This is expected to be the key driver of growth over the long-term.

Oil prices slide lower.

Oil prices have been on the decline overnight and have given back some of Friday’s explosive gains brought about by OPEC’s decision to lift production by less than feared. According to Bloomberg, at present the WTI crude oil price is down 0.6% to US$68.19 a barrel and Brent crude oil is down 0.9% to US$74.85 a barrel. This could mean a softer day of trade for energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO).

HUB24 will be on watch.

The HUB24 Limited (ASX: HUB) share price will be on watch on Tuesday after the fintech company released a trading update yesterday evening. According to the update, HUB24 has continued to experience strong net inflows and expects its platform segment to report underlying EBITDA of $11.8 million in FY 2018. This will be a significant lift year-on-year.

Royal Commission continues.

The Royal Commission returns for day two of its focus on farm financing. Australia and New Zealand Banking Group (ASX: ANZ) took to the stand on Monday and was quizzed about problems with its acquisition of Landmark. Expect more of the same on Tuesday.

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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. 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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