5 things to watch on the ASX 200 on Tuesday

It looks set to be a tough session for the ASX 200 on Tuesday.

Business woman watching stocks and trends while thinking

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in a positive fashion. The benchmark index rose 0.7% to 7,124.7 points.

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

ASX 200 expected to fall

The Australian share market is expected to give back some of yesterday's gains on Tuesday following a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 33 points or 0.45% lower. In late trade in the United States, the Dow Jones is down 0.2%, the S&P 500 is down 0.7%, and the NASDAQ is 1.1% lower.

Origin takeover collapses

Origin Energy Ltd (ASX: ORG) shares will be on watch today after the $9.39 cash per share takeover proposal by Brookfield and EIG was rejected by shareholders at a scheme meeting. Only 68.92% of the votes cast by shareholders were in favour of the scheme resolution. The company's largest shareholder, AustralianSuper, said it "welcomes the decision by shareholders to vote against the takeover scheme."

Oil prices fall again

ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a subdued session after oil prices fell again overnight. According to Bloomberg, the WTI crude oil price is down 1.4% to US$72.99 a barrel and the Brent crude oil price is down 1.1% to US$78.01 a barrel. Demand fears are weighing on prices this week.

Gold price pulls back

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a tough session after the gold price pulled back overnight. According to CNBC, the spot gold price is down 2.15% to US$2,045 an ounce. Traders were taking profit after the gold price hit a record high on Monday.

Telstra shares rated as a hold

Bell Potter is sitting on the fence when it comes to Telstra Group Ltd (ASX: TLS) shares right now. This morning, the broker has retained its hold rating and $4.15 price target on the telco giant's shares. It said: "We acknowledge the stock is starting to look reasonable value but there is perhaps a lack of apparent short-term catalysts to drive the share price higher."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Three analysts look at tech options on a wall screen
Share Market News

Here's how the ASX 200 market sectors stacked up this week

ASX tech shares are on fire, leading the 11 market sectors for a third consecutive week.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Market News

Here are the top 10 ASX 200 shares today

The ASX 200 clocked a few new all-time highs this Friday.

Read more »

A young couple stands next to a real estate agent in an empty apartment they are inspecting
Share Market News

How ASX shares vs. property performed in February

We reveal the property price growth for each city and regional market and the top 5 risers of the ASX…

Read more »

ASX shares Business man marking buy on board and underlining it
Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why Ampol, Calix, Collins Foods, and Propel shares are tumbling today

These ASX shares are ending the week in the red. But why?

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Technology Shares

The Nasdaq just hit a fresh all-time high. What could it mean for Aussie investors?

With the Nasdaq at fresh highs, ASX tech shares are reaping the benefits.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Core Lithium, Life360, Syrah, and Xero shares are jumping today

These ASX shares are ending the week on a high. But why?

Read more »

Businessman smiles with arms outstretched after receiving good news.
Share Market News

Boom! ASX 200 rocketing into new all-time highs on Friday

The ASX 200 is setting new records on Friday.

Read more »