The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a disappointing start to the week on Monday, falling 0.6% to 6,172.3 points.
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 poised to open the day 0.1% or 7 points higher on Tuesday. This follows a positive night of trade on Wall Street which saw the Dow Jones and S&P 500 rise 0.7% and 0.4%, respectively. U.S. tech shares failed to follow the market higher and led to the Nasdaq dropping 0.1%
Oil prices jumped.
Australian energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could be set for another positive day of trade after oil prices jumped higher again. According to Bloomberg, the WTI crude oil price climbed 3% to US$75.47 a barrel and the Brent crude oil price rose 2.6% to US$84.92 a barrel.
Reserve Bank meeting.
All eyes will be on the Reserve Bank of Australia this afternoon when it announces its latest cash rate decision. Unfortunately for savers, though, the central bank will almost certainly keep rates on hold at the record low of 1.5% for another month.
Nick Scali shares going ex-dividend.
The shares of furniture retailer Nick Scali Limited (ASX: NCK) are likely to drop into the red today after going ex-dividend this morning for its 24 cents per share dividend. Eligible shareholders can then look forward to receiving this dividend on October 24.
Dividends being paid today.
Elsewhere, eligible shareholders of building products company Boral Limited (ASX: BLD), iron ore producer Fortescue Metals Group Limited (ASX: FMG), retail group Super Retail Group Ltd (ASX: SUL), and investment company Thorney Opportunities Ltd (ASX: TOP) are due to receive their dividends today.
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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 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.