On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) started the week on a positive note. The benchmark index finished the day 0.4% higher at 6,089.8 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
ASX futures pointing higher.
The Australian share market could be set for a positive day of trade. At the time of writing SPI futures are pointing to a small gain of 3 points at the open. Wall Street has been closed for President's Day. In addition to this, oil prices have climbed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.8% and the Brent crude oil price has risen 0.4%.
Altium shares will be on watch.
The Altium Limited (ASX: ALU) share price could be a strong performer on Tuesday following the release of an impressive half year result after the market close yesterday. During the six months ended December 31, Altium posted revenue growth of 26% to US$78 million and profit after tax growth of 58% to $23.4 million.
Coles results.
The shares of supermarket giant Coles Group Ltd (ASX: COL) will be on watch this morning when it releases its first results since the Wesfarmers Ltd (ASX: WES) spin off. Goldman Sachs has tipped Coles as a company that could surprise during earnings season thanks to strong comparable sales growth in the supermarket category.
BHP results.
The BHP Group Ltd (ASX: BHP) share price climbed to a multi-year high on Monday, stretching its 12-month gain to over 16%. The mining giant's shares could build on this today if it delivers a strong half year result. A note out of Goldman Sachs reveals that it expects underlying EBITDA of US$10.5 billion, NPAT of US$3.9 billion, and net debt of US$10.8 billion. Goldman has forecast an interim dividend of 51 U.S. cents per share.
Other results due to be released.
A large number of results are due to be released this morning. This includes health supplements company Blackmores Limited (ASX: BKL), hearing solutions specialist Cochlear Limited (ASX: COH), engineering company Monadelphous Group Limited (ASX: MND), and energy producer Oil Search Limited (ASX: OSH).
