5 things to watch on the ASX 200 on Tuesday

A better day is expected for Aussie investors on Tuesday.

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On Monday, the S&P/ASX 200 Index (ASX: XJO) had a day to forget. The benchmark index fell 1.8% to 7,704.2 points.

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

ASX 200 expected to edge higher

The Australian share market is expected to edge higher on Tuesday following a mixed start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 4 points higher. In late trade in the United States, the Dow Jones is up 0.2%, the S&P 500 is down 0.15%, and the NASDAQ is 0.3% lower.

ASX 200 shares going ex-dividend

Battery materials miner IGO Ltd (ASX: IGO) and media giant News Corporation (ASX: NWS) shares will be going ex-dividend on Tuesday for their upcoming dividend payments and could trade lower.  IGO is paying a fully franked 11 cents per share dividend to shareholders, whereas News Corp will be paying 10.7 cents per share.

Oil prices rise

ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) could have a decent session after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 0.15% to US$78.13 a barrel and the Brent crude oil price is up 0.4% to US$82.44 a barrel. Traders appear optimistic ahead of the next inflation reading.

Iron ore price sinks

It could be a tough session for BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) shares after the iron ore price sank on Monday. The benchmark iron ore price dropped 6.8% to US$107.35 a tonne. This led to the mining giants' Wall Street listed shares taking a tumble during overnight trade.

Gold price rises

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good session after the gold price rose again on Monday. According to CNBC, the spot gold price is up 0.1% to US$2,188.2 an ounce. This was driven by increasing rate cut bets.

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 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 Scott Phillips.

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