On Monday the S&P/ASX 200 index returned to form and recorded a strong gain. The benchmark index ended the day 1% higher at 6,467.4 points.
Will the Australian share market be to build on this on Tuesday? Here are five things to watch:
ASX 200 poised to push higher.
The Australian share market looks set to continue its rebound on Tuesday following another positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 index is expected to open the day 12 points or 0.2% higher this morning. On Wall Street the Dow Jones rose 0.95%, the S&P 500 index pushed 1.2% higher, and the Nasdaq jumped 1.35% higher.
Altium results.
The Altium Ltd (ASX: ALU) share price will be on watch today following the release of its full year results after the market close on Monday. For the 12 months ended June 30, Altium posted a 22.6% lift in full year revenue to US$171.8 million and a 41.1% increase in net profit after tax to US$52.9 million. This appears to be largely in line with the market's expectations.
Oil prices charge higher.
It looks set to be a positive day of trade for energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) on Tuesday after oil prices charged higher again. According to Bloomberg, the WTI crude oil price climbed 2.5% to US$56.24 a barrel and the Brent crude oil price rose 1.9% to US$59.77 a barrel.
Gold price sinks lower.
A recovery in risk appetite led to falling demand for safe havens on Monday. This led to the spot gold price sinking notably lower. According to CNBC, the spot gold price fell 1.15% to US$1,505.10 an ounce. This looks set to put pressure on gold miners such as Newcrest Mining Limited (ASX: NCM) and Resolute Mining Limited (ASX: RSG) this morning.
Results releases.
A large number of results are scheduled to be released today from some of Australia's biggest companies. These include mining giant BHP Group Ltd (ASX: BHP), engineering company Monadelphous Group Limited (ASX: MND), job listings company SEEK Limited (ASX: SEK), and healthcare company Sonic Healthcare Limited (ASX: SHL).
