As a result of the disappointing trend of the ASX on Monday, people are wondering what the upcoming ASX Tuesday news will hold. On the one hand, the S&P / ASX 200 Tuesday is expected to bounce back up from the benchmark index fall of 0.85% to 7,277 points – it experienced on Monday.
Here are 5 things to watch on the ASX 200 on Tuesday:
ASX 200 bound to rise – ASX Tuesday:
The Australian share market is expected to rise on Tuesday due to the head start it experienced this week in the US. The SPI futures assume the ASX Tuesday will go up at least 1 point higher, if not more. The Dow Jones was up 0.1%, the S&P 500 was up 0.6%, and the NASDAQ was up 1% on Wall Street.
Oil prices will dip:
After oil prices fell overnight, ASX 200 energy firms such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) may have a calm session. According to Bloomberg, the WTI crude oil price is down 0.7% to US$82.60 per barrel, as the Brent crude oil prices decreased 0.6% to US$86.30 per barrel. Prices are under pressure due to concerns about the Chinese economy.
The NAB Q3 Update:
The share price of National Australia Bank Ltd. (ASX: NAB) is related to the impending release of the banking giant’s third-quarter report. As a reminder, NAB reported a 17% rise in cash earnings for the first half of FY 2023. However, considering the Goldman Sachs team anticipates 8.75% full-year growth, its second-half earnings will only climb by 1%. With its third-quarter earnings, NAB may be worth checking to see if it is on track to deliver (or not) on this.
The gold price went down:
After the gold price switched down overnight, ASX 200 gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on guard. According to CNBC, the current gold price is down 0.35% to US$1,939.7 per ounce. The cost of precious metals was impacted by a strong US dollar.
CSL Outcome:
When the biotherapeutics giant delivers its eagerly awaited FY 2023 results today, investors in CSL Limited (ASX: CSL) shares will be paying close attention. NPATA guidance of US$2.7 billion to US$2.8 billion in constant currency is expected to be met by management at the high end. The market will undoubtedly be watching to see if CSL sticks to their FY 2024 projection for NPATA of between US$2.9 billion and US$3 billion.