5 things to watch on the ASX 200 on Tuesday

Mesoblast limited (ASX:MSB) and Zip Co Ltd (ASX:Z1P) shares will be on watch on the ASX 200 on Tuesday…

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On Monday the S&P/ASX 200 Index (ASX: XJO) started the week in a disappointing fashion. The benchmark index fell 0.9% to 6,697.2 points.

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

ASX 200 expected to rise.

It looks set to be a better day for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open 4 points higher this morning. This is despite a weak start to the week on Wall Street. In late trade the Dow Jones is down 0.35%, the S&P 500 has fallen 0.65%, and the Nasdaq has tumbled 1% lower.

Mesoblast on watch.

The Mesoblast limited (ASX: MSB) share price was a strong performer on Monday and jumped 14% higher. This followed the release of a positive announcement which revealed that its rexlemestrocel-L drug provides a reduction in heart attacks, strokes and cardiac death in patients with chronic heart failure. With the company’s US listed shares jumping 37% overnight on the news, its ASX listed shares may have some catching up to do today.

Oil prices mixed.

Energy producers including Beach Energy Limited (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) will be on watch after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price rose 0.15% to US$52.33 a barrel and the Brent crude oil price has fallen 0.35% to US$55.79 a barrel.

Gold price rebounds.

It could be a better day for gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) after the gold price rebounded from Friday’s selloff. According to CNBC, the spot gold price is up 0.75% to US$1,849.10 an ounce. Traders appear to believe it was oversold on Friday when it dropped over 4%.

Zip update.

Second time lucky? Zip Co Ltd (ASX: Z1P) didn’t release its second quarter update as was largely expected on Monday, so today could be the day. Investors will no doubt be keen to see how the company performed during the all-important holiday season shopping period and if there has been any impact from growing industry competition.

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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 ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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