The Motley Fool

5 things to watch on the ASX 200 on Tuesday

On Monday the S&P/ASX 200 index started the week on a positive note. The benchmark index rose 0.2% to 7,079.5 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 continue its solid run on Tuesday. According to the latest SPI futures, the ASX 200 is poised to rise 5 points or 0.1% at the open. This is despite a reasonably poor start to the week in Europe. Wall Street was closed overnight for the Martin Luther King Jr holiday.

Oil prices edge higher.

Energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could push higher today after oil prices climbed again. According to Bloomberg, the WTI crude oil price rose 0.2% to US$58.66 a barrel and the Brent crude oil price climbed 0.5% to US$65.19 a barrel. Oil prices rose after Libyan oilfields were shut down.

Gold price edges higher.

Gold miners such as Evolution Mining Ltd (ASX: EVN) and St Barbara Ltd (ASX: SBM) will be on watch after a mildly positive night of trade for the gold price. According to CNBC, attacks in Yemen sent the spot gold price ever so slightly higher to US$1,560.60 an ounce.

BHP update.

The BHP Group Ltd (ASX: BHP) share price will be on watch on Tuesday when it releases its first half production update. Expectations are high for the mining giant. A note out of Goldman Sachs reveals that its analysts expect quarter on quarter growth for copper, iron ore, and met coal production.  

NIB upgraded to neutral.

The NIB Holdings Limited (ASX: NHF) share price crashed lower on Monday after downgrading its earnings guidance for FY 2020. One broker that thinks its shares are now fair value is Goldman Sachs. This morning it upgraded its shares from a sell rating to neutral with a $5.66 price target. It notes that its shares are now trading at a 5% premium to the market, down from a 40% premium in mid-2019.

Blue chip shares named as buys.

You’re invited! For a limited time, The Motley Fool Australia is giving away a fantastic FREE report detailing our 3 TOP BLUE CHIP SHARES to buy and own for now and beyond!. So if you like trustworthy, stable, high-performing companies that pay fat fully franked dividends – we’ve got you covered! Stock #1 is a beloved old Australian company turning its attention to high-margin businesses... and rapidly returning cash to shareholders with its hefty dividend...

While Stock #2 is an online powerhouse that’s rapidly gaining market share all around the globe... poised for years (or even decades) of tremendous growth...

Even better, Stock #3 offers a whopping grossed-up dividend of over 6%! Which beats the rates on term deposits right out of the water – and offers the potential for capital gains, too.

You can discover all three shares inside our new report right now. To scoop up your FREE copy, simply click the link below right now. But you will want to hurry – this free report is available for a LIMITED TIME ONLY!

Simply CLICK HERE FOR YOUR FREE REPORT!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended NIB Holdings 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.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!