On Monday the S&P/ASX 200 index started the week on a very disappointing note. The benchmark index fell 2.3% to 6,978.3 points.
Will the local share market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 expected to fall again.
The S&P/ASX 200 index looks set to continue its slide on Tuesday. According to the latest SPI futures, the ASX 200 is poised to tumble a further 2% or 137 points at the open. This follows a bleak night of trade on Wall Street which in late trade sees the Dow Jones trading 2.8% lower, the S&P 500 index down 2.8%, and the Nasdaq index down by 3.1%. U.S. and European shares were sold off amid concerns over the spread of the coronavirus.
Oil prices sink again.
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices continued to sink lower. According to Bloomberg, the WTI crude oil price has fallen 3.4% to US$51.59 a barrel and the Brent crude oil price has dropped 3.3% to US$56.57 a barrel.
Gold price continues to rise.
Gold miners including Newcrest Mining Limited (ASX: NCM) and Saracen Mineral Holdings Limited (ASX: SAR) are likely to continue their positive form on Tuesday after the gold price surged higher again. According to CNBC, the spot gold price is up 0.55% to US$1,657.30 an ounce amid increasing demand for safe haven assets.
Appen full year results.
The Appen Ltd (ASX: APX) share price will be on watch this morning when it releases its full year results. In November the artificial intelligence and machine learning company upgraded its underlying EBITDA guidance from between $85 million and $90 million, to $96 million and $99 million. This was based on an Australian dollar at 74 U.S. cents.
Other results.
It isn't just Appen releasing its results this morning. A number of ASX 200 shares are scheduled to release their results as well. This includes aged care provider Estia Health Ltd (ASX: EHE), fuel retailer Caltex Australia Limited (ASX: CTX), and leading energy producer Oil Search Limited (ASX: OSH).
