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5 things to watch on the ASX on Tuesday

On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) opened the week with the smallest of gains.

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

ASX expected to open lower.

The Australian market is expected to open the day slightly lower on Tuesday. According to the latest SPI futures, the market is poised to open 3 points lower this morning despite U.S. markets having a positive night of trade. The Dow Jones rose 0.35%, the S&P 500 pushed 0.25% higher, and the Nasdaq edged almost 0.1% higher.

Oil prices continue to push higher.

Australia’s oil producers look set for another positive day of trade after oil prices continued to push higher overnight. According to Bloomberg, the WTI crude oil price climbed 1% to US$66.62 a barrel and the Brent crude oil price rose 0.5% to US$72.21 a barrel.

BHP results.

Mining giant BHP Billiton Limited (ASX: BHP) is scheduled to release its results today. According to the Bloomberg consensus estimate, the market is expecting the miner to post a net profit after tax of $6,980 million. All eyes will be on BHP’s dividend and its plans for the funds raised from its numerous asset divestments.

Altium results.

Printed circuit board design software provider Altium Limited (ASX: ALU) will release its full-year results. Expectations are high after the company delivered a stellar first-half result in February. In the first-half Altium achieved record revenue growth of 30% to US$63.2 million and expanded profit margins to record levels with net profit increasing 51% to US$14.9 million.

Other results due for release.

A number of other big results are scheduled to be released today. These include fast-growing waste management company Bingo Industries Ltd (ASX: BIN), engineering company Monadelphous Group Limited (ASX: MND), energy producer Oil Search Limited (ASX: OSH), and retailer Super Retail Group Ltd (ASX: SUL). In respect to the latter, all eyes will be on the company’s Leisure segment. Rather than divest it as many had hoped, the company opted to acquire the popular Macpac brand in an attempt to turn around its fortunes.

Four buy-rated shares to watch in FY 2019.

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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 Altium and Super Retail 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.

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