It was a disappointing start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). The benchmark index fell 0.4% to 6,252.2 points on Monday.
Will the market be able to bounce back on Tuesday? Here are five things to watch:
ASX futures pointing higher.
According to the latest SPI futures, the Australian share market is expected to open the day 4 points or almost 0.1% higher on Tuesday. This is despite U.S. markets tumbling lower on the back of further declines in the Turkish lira. The Dow Jones fell 0.5%, the S&P 500 dropped 0.4%, and the Nasdaq lost 0.25% of its value. The Dow Jones has now fallen for four days in a row.
All eyes on Domino’s.
One of the most highly anticipated full-year results is due to be released this morning. The embattled Domino’s Pizza Enterprises Ltd (ASX: DMP) has provided guidance of full-year profit growth of approximately 20%, but opinion is divided on whether it will be able to deliver on this.
Challenger results release.
Annuities company Challenger Ltd (ASX: CGF) is also due to release its results this morning. According to a note out of Goldman Sachs, it expects normalised net profit after tax of $420 million compared to the Bloomberg consensus estimate of $424 million. The broker has also forecast FY 2019 normalised net profit before tax guidance of $600 million.
More results due for release.
As well as Domino’s and Challenger, there are a number of other results scheduled for release today. These include hearing solutions company Cochlear Limited (ASX: COH), fleet management company SG Fleet Group Ltd (ASX: SGF), and coal miner Whitehaven Coal Ltd (ASX: WHC).
Oil prices slide.
The shares of Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) had a positive start to the week on Monday. But they may struggle to hold onto these gains today after oil prices gave back some of their gains. According to Bloomberg, the WTI crude oil price has fallen 0.4% to US$67.38 a barrel and the Brent crude oil price has edged slightly lower to US$72.78 a barrel.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Challenger Limited. The Motley Fool Australia has recommended Cochlear Ltd. and Domino's Pizza Enterprises 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.
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