MENU

5 things to watch on the ASX 200 on Tuesday

On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) started the week on a disappointing note. The benchmark index finished the day 0.65% lower at 5,693.7 points.

Will the market be able to bounce back on Tuesday? Here are five things to watch:

ASX futures pointing lower.

The ASX 200 is expected to open the day lower again on Tuesday. According to the latest SPI futures, the local market is poised to open the day 0.4% or 22 points lower following a bad start to the week on Wall Street. Late in the U.S. session the Dow Jones is down 1.7%, the S&P 500 has fallen 2%, and the Nasdaq has sunk 2.9% lower.

Tech shares could come under pressure.

Popular tech shares such as Afterpay Touch Group Ltd (ASX: APT), Appen Ltd (ASX: APX), Xero Limited (ASX: XRO) could come under pressure again today after another U.S. tech selloff. The FAANG stocks have fallen between 3% to 6% on Wall Street on Monday.

A2 Milk AGM.

The A2 Milk Company Ltd (ASX: A2M) share price will be on watch on Tuesday when it holds its annual general meeting. Investors will be hoping for a positive trading update from the infant formula and dairy company. Sales data could include the all-important China Singles Day event.

CYBG PLC results.

Later today CYBG PLC (ASX: CYB) will become the latest bank to reveal its results. The UK-based bank’s shares have fallen heavily over the last few days, possibly in anticipation of a soft result today. ALS Ltd (ASX: ALQ) is also due to release its first half results today. The testing services company has provided first half underlying after tax profit from continuing operations guidance in the range of $85 million to $90 million.

Oil prices improve.

Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) shares were given a boost overnight when oil prices improved. According to Bloomberg, the WTI crude oil price has risen 1.1% to US$57.07 a barrel and the Brent crude oil price has climbed 0.2% to US$66.89 a barrel.

Instead of oil shares I think investors would be better off taking a look at this quality dividend share.

OUR #1 dividend pick to grow your wealth now is revealed for FREE here!

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 A2 Milk, AFTERPAY T FPO, Appen Ltd, and Xero. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.