On Monday the S&P/ASX 200 index started the week on a disappointing note, falling just over 0.4% to 6,359.5 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX futures pointing lower.
The Australian share market looks set to continue its slide on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 3 points lower this morning. This is despite Wall Street starting the week on a positive note with a small gain for the Dow Jones, a 0.1% rise by the S&P 500, and a 0.2% lift by the Nasdaq.
Oil prices mixed.
Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) shares will be on watch after a mixed night of trade for oil prices. According to Bloomberg, the WTI crude oil price rebounded 0.5% to US$63.59 a barrel, whereas the Brent crude oil price dropped 0.2% to US$72.01 a barrel.
Gold price drops.
The likes of Resolute Mining Limited (ASX: RSG) and St Barbara Ltd (ASX: SBM) could come under pressure after the gold price gave back its recent gains on Monday. According to CNBC, positive U.S. data led to the spot gold price tumbling 0.55% to US$1,281.50 an ounce.
Coles rated as a buy.
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $13.30 price target on the Coles Group Ltd (ASX: COL) share price following its stronger than expected third quarter update. Goldman appeared to be pleased with its sales growth and has upgraded its FY 2019 comparable store sales forecasts from 2.25% to 2.5%.
Brickworks dividend being paid.
A number of companies are paying their latest dividends today. On the ASX 200, eligible shareholders of building products company Brickworks Limited (ASX: BKW) can look forward to being paid its latest dividend later today. Brickworks is paying its shareholders a fully franked interim dividend of 19 cents per share.
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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 COLESGROUP DEF SET. The Motley Fool Australia has recommended Brickworks. 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.