On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a very disappointing start to the week and fell 2.3% to 5,552.5 points.
Will it be able to bounce back on Tuesday? Here are five things to watch on the ASX 200:
ASX futures pointing higher.
According to the latest SPI futures, the ASX 200 is expected to open the day 0.5% or 27 points higher on Tuesday. This follows a reasonably positive night of trade on Wall Street which late in the session sees the Dow Jones down 0.2%, the S&P 500 up 0.15%, and the Nasdaq climbing 0.8% higher.
Oil prices slide.
Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) shares will be on watch on Tuesday after oil prices gave back their recent gains. According to Bloomberg, the WTI crude oil price fell 3.25% to US$50.90 a barrel and the Brent crude oil price dropped 2.9% to US$59.90 a barrel. Concerns over global demand growth weighed on prices on Monday.
Tech shares to rebound.
Australian tech shares were among the worst performers on the market on Monday. Pleasingly, things look set to be a lot better for the likes of Appen Ltd (ASX: APX) and WiseTech Global Ltd (ASX: WTC) on Tuesday after their U.S. counterparts rebounded on Wall Street overnight.
James Hardie goes ex-dividend.
The James Hardie Industries plc (ASX: JHX) share price is likely to trade lower on Tuesday after going ex-dividend this morning. The building materials company's 11 cents per share interim dividend will be paid to eligible shareholders on February 22. Elsewhere, eligible shareholders of CSR Limited (ASX: CSR) will be paid their 13 cents per share interim dividend later today.
Bank shares at 52-week lows.
Australia and New Zealand Banking Group (ASX: ANZ), National Australia Bank Ltd (ASX: NAB), and Westpac Banking Corp (ASX: WBC) shares all fell to 52-week lows on Monday after a selloff in the banking sector. All eyes will be on the three banking giants today to see if they rebound from these lows or sink even lower.
