On Monday the S&P/ASX 200 index fought back from a heavy decline to end the day a fraction higher at 6,735.7 points.
Will the local share market be able to build on this on Tuesday? Here are five things to watch:
ASX 200 expected to rise.
The S&P/ASX 200 index looks set to push higher on Tuesday. According to the latest SPI futures, the ASX 200 is poised to jump 0.55% or 36 points at the open. This follows a reasonably positive start to the week on Wall Street which in late trade sees the Dow Jones flat, the S&P 500 up 0.15%, and the Nasdaq pushing 0.35% higher. In earlier trade U.S. markets were deep in the red, so this is arguably a good result.
Domino's class action.
The Domino's Pizza Enterprises Ltd (ASX: DMP) share price will be on watch on Tuesday after a late announcement on Monday. That announcement reveals that Domino's expects to be served with Federal Court proceedings by an Australian franchisee shortly. This relates to a commercial dispute between the company and the franchisee which has been the subject of discussions for some time. Domino's intends to defend the claims.
Oil prices climb.
Energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be on watch on Tuesday after oil prices climbed higher again. According to Bloomberg, the WTI crude oil price rose 0.25% to US$63.21 a barrel and the Brent crude oil price pushed 0.4% higher to US$68.87 a barrel.
Gold price hits a six-year high.
Gold miners such as Evolution Mining Ltd (ASX: EVN) and St Barbara Ltd (ASX: SBM) could be on the rise again today after the spot gold price hit a six-year high of US$1,590.90 an ounce overnight due to geopolitical turmoil. According to CNBC, the spot gold price is currently up 0.85% to US$1,565.50 an ounce.
Caltex takeover rumours.
The Caltex Australia Limited (ASX: CTX) share price will be on watch today amid speculation that a bidding war could be brewing. According to the AFR, the UK-based EG Group is considering a bid for fuel retailer. This follows a bid by Canada's Alimentation Couche-Tard at the end of last year.
