On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week poorly. The benchmark index fell 0.7% to 7,230.4 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
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ASX 200 expected to fall again
The Australian share market is set to fall on Tuesday despite a mildly positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 21 points or 0.3% lower. In the United States, the Dow Jones, S&P 500, and NASDAQ also rose under 0.1%.
Oil prices climb
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a good session after oil prices climbed again overnight. According to Bloomberg, the WTI crude oil price is up 1.4% to US$92.04 a barrel and the Brent crude oil price is up 0.7% to US$94.58 a barrel. Oil prices continue to rise amid concerns over tightening supplies.
Dividends being paid
Today is payday for shareholders of a number of ASX 200 shares. Paying their dividends today are auto parts retailer Bapcor Ltd (ASX: BAP), coal miner Coronado Global Resources Inc (ASX: CRN), and mining royalties company Deterra Royalties Ltd (ASX: DRR).
Gold price rises
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good session after the gold price rose overnight. According to CNBC, the spot gold price is up 0.5% to US$1,955.3 an ounce. A softer US dollar boosted the precious metal.
BHP and Rio Tinto on watch
Iron ore miners BHP Group Ltd (ASX: BHP), Fortescue Metals Group Ltd (ASX: FMG), and Rio Tinto Ltd (ASX: RIO) could drag on the ASX 200 on Tuesday after the price of the steel-making ingredient pulled back. The spot iron ore price is down 1% to US$121.75 a tonne.
