On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a disappointing start to the week when it sank 1% lower to 5,837.1 points.
Will the market be able to bounce back on Tuesday? Here are five things to watch:
ASX futures flat.
According to the latest SPI futures, the Australian share market is expected to open the day flat on Tuesday. This is despite a disappointing night of trade on Wall Street which saw the Dow Jones slide 0.35% lower, the S&P 500 fall 0.6%, and the Nasdaq sink 0.9%. The latter could be a sign that the Aussie tech share selloff hasn't ended.
Banks at five-year lows.
One of the major drags on the market on Monday was the banking sector. Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) shares fell to five-year lows, whereas National Australia Bank Ltd (ASX: NAB) and Australia and New Zealand Banking Group (ASX: ANZ) shares fell to a 52-week low and a two-year low, respectively. Shareholders will be hoping that this is the bottom.
Rio Tinto quarterly update.
This morning the shares of mining giant Rio Tinto Limited (ASX: RIO) will be on watch when it releases its third quarter update to the market. Fellow mining giant BHP Billiton Limited (ASX: BHP) won't be far behind, with its quarterly report due out 24 hours later.
Oil prices rise.
Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) shares could be on the rise on Tuesday after oil prices pushed higher. According to Bloomberg, the WTI crude oil price climbed 0.4% to US$71.65 a barrel and Brent crude oil rose 0.4% to US$80.75 a barrel. Oil prices pushed higher after Saudi Arabia made a veiled oil weapon threat.
Shares going ex-dividend.
The shares of Autosports Group Ltd (ASX: ASG) and Shaver Shop Group Ltd (ASX: SSG) are likely to trade lower on Tuesday after going ex-dividend this morning. Eligible shareholders of both companies can now look forward to receiving this dividend in their nominated accounts on October 31. Elsewhere, Amcor Limited (ASX: AMC) and BlueScope Steel Limited (ASX: BSL) are due to pay their latest dividends today.
