Motley Fool Australia

5 things to watch on the ASX 200 on Tuesday

On Monday the S&P/ASX 200 index fought back from a day in the red to finish it just a fraction higher at 6,251.4 points.

Will the market be able to build on this on Tuesday? Here are five things to watch:

ASX futures pointing lower.

According to the latest SPI futures, the ASX 200 is expected to open the day lower on Tuesday. This follows a soft night of trade on Wall Street overnight which saw the Dow Jones open the week 0.1% lower, the S&P 500 down 0.05%, and the Nasdaq 0.1% lower.

Blackmores third quarter result.

The Blackmores Limited (ASX: BKL) share price will be on watch this morning when it releases its third quarter results. According to a note out of Goldman Sachs, it expects the health supplements company to report sales of $186.1 million and EBIT of $20.7 million. This represents a decline of 1% and 18%, respectively, on the prior corresponding period.

Nearmap to be added to the ASX 200.

The Nearmap Ltd (ASX: NEA) share price could be given a boost today after a late announcement revealed that the aerial imagery technology company would replace MYOB Group Ltd (ASX: MYO) in the ASX 200 index. MYOB will be removed on April 24 due to its takeover by KKR & Co Inc.

Oil prices start the week lower.

Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) shares will be on watch after oil prices started the week on a disappointing note note. According to Bloomberg, the WTI crude oil price dropped 0.6% to US$63.50 a barrel and the Brent crude oil price fell 0.4% to US$71.25 a barrel.

Gold price down.

Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) shares could extend their declines on Tuesday after the gold price dropped lower overnight. According to CNBC, the spot gold price is down 0.3% to US$1,290 an ounce after trade deal optimism boosted risk appetite.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of MYOB Group Ltd. The Motley Fool Australia owns shares of and has recommended Blackmores Limited and Nearmap Ltd. 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.

Related Articles…

Latest posts by James Mickleboro (see all)