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:
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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.
