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.
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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 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.