On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a disappointing start to the week and gave back its early gains to finish 0.14% lower.
Will the market be able to rebound on Tuesday? Here are five things to watch:
ASX futures pointing lower.
According to the latest SPI futures, the Australian share market is poised to open the day lower. The benchmark S&P/ASX 200 is expected to open the day 3 points or 0.05% lower on Tuesday. The local market appears to be looking for a lacking direction due to the U.S. markets being closed on Monday.
Reserve Bank meeting.
Later today the Reserve Bank of Australia will meet to discuss the cash rate which has remained on hold at the record low of 1.5% for the last 22 meetings. The general consensus is that the central bank will not only keep rates on hold today, but for the whole of this year and next.
Oil prices bounce.
According to Bloomberg, oil prices have rebounded after data out of Iran showed that in August it shipped the least oil since March 2016. This led to the WTI crude oil price rising 0.4% to US$70.10 a barrel and the Brent crude oil price climbing almost 0.7% to US$78.15 a barrel.
Medibank rated as a sell.
A note out of Goldman Sachs reveals that its analysts have slapped a sell rating on the shares of private health insurer Medibank Private Ltd (ASX: MPL) with a price target of $2.70. The broker expects a tough gross margin outlook, especially when it comes to rate renegotiations in 2019. In addition to this, an upcoming election could put pressure on the industry. Goldman suspects a 2% rate hike cap could be on the horizon.
Shares going ex-dividend.
A large number of popular dividend shares are due to go ex-dividend this morning for their latest pay outs. This includes food company Bega Cheese Ltd (ASX: BGA), building materials company Boral Limited (ASX: BLD), billing technology company Hansen Technologies Limited (ASX: HSN), Nine Entertainment Co Holdings Ltd (ASX: NEC), and coal miner Whitehaven Coal Ltd (ASX: WHC).
You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!
Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Hansen Technologies. 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.