On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) started the week on a positive note. Thanks to a late rally, the benchmark index finished the day 0.3% higher at 6,186.3 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
ASX futures pointing lower.
The ASX 200 looks set to drop lower despite a positive start to the week on Wall Street. Current SPI futures contracts are pointing to the benchmark index opening the day 0.2% or 11 points lower this morning. Late in the session in New York the Dow Jones has started the week with a 0.5% gain, the S&P 500 is up 0.4%, and the Nasdaq has pushed 0.6% higher.
Oil prices sink lower.
Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) shares will be on watch on Tuesday after oil prices sank lower overnight. According to Bloomberg, the WTI crude oil price has tumbled 3% to US$55.54 a barrel and the Brent crude oil price is down 3% to US$65.11 a barrel. Oil prices came under pressure after President Trump told OPEC that prices are too high.
Afterpay Touch results.
Afterpay Touch Group Ltd (ASX: APT) shares will be on watch on Tuesday when it becomes the latest tech star to report its results. The payments company has already pre-released much of its result, so all eyes will be on its guidance and future plans for its the buy now, pay later platform. A launch in the UK is expected to be on the horizon.
Shares going ex-dividend.
A number of popular dividend shares are trading ex-dividend this morning and are likely to trade lower. These include annuities company Challenger Ltd (ASX: CGF), beverage company Coca-Cola Amatil Ltd (ASX: CCL), embattled financial services company IOOF Holdings Limited (ASX: IFL), and conglomerate Wesfarmers Ltd (ASX: WES).
More results to come.
The end of earnings season may be in sight, but it looks set to be another busy day of releases on Tuesday. Results to look out for include fuel retailer Caltex Australia Limited (ASX: CTX), aged care operator Estia Health Ltd (ASX: EHE), Healthscope Ltd (ASX: HSO), and utility infrastructure investor Spark Infrastructure Group (ASX: SKI).
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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 and has recommended Challenger Limited and Wesfarmers Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Coca-Cola Amatil 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.