On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in a subdued manner and dropped into the red. The benchmark index fell 0.35% to 8,266.2 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 expected to rebound
The Australian share market is expected to rebound slightly on Tuesday following a relatively positive start to the week in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 7 points or 0.1% higher. In late trade on Wall Street, the Dow Jones is up 0.75% and the S&P 500 is up 0.1%, but the Nasdaq is down 0.1%.
NAB shares go ex-dividend
National Australia Bank Ltd (ASX: NAB) shares are likely to fall today after closing Monday's session at a 17-year high. That's because the big four bank's shares are going ex-dividend for its latest payout. Last week, the banking giant released its full year results and declared a fully franked final dividend of 85 cents per share. This will be paid to eligible shareholders in just over a month on 16 December.
Oil prices sink
It could be a tough session for ASX 200 energy shares such as Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) on Tuesday after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 3.3% to US$68.03 a barrel and the Brent crude oil price is down 2.8% to US$71.82 a barrel. Oil prices tumbled after Chinese stimulus measures disappointed the market.
Endeavour named as a buy
Goldman Sachs thinks investors should be buying the beaten down shares of Endeavour Group Ltd (ASX: EDV). In response to its trading update, the broker has retained its buy rating on the drinks giant's shares with a trimmed price target of $5.50. Goldman believes that "market concern over alcohol consumption structural decline overdone" and that "market share gains will position the Company well for category recovery."
Gold price tumbles
ASX 200 gold miners Gold Road Resources Ltd (ASX: GOR) and Regis Resources Limited (ASX: RRL) could have a poor session on Tuesday after the gold price tumbled again overnight. According to CNBC, the gold futures price is down 2.6% to US$2,625.3 an ounce. A stronger US dollar has put pressure on the precious metal.
