On Thursday the S&P/ASX 200 Index (ASX: XJO) closed the week with a very strong gain. The benchmark index stormed 3.5% higher to 5,387.3 points.
Will there be more of the same on Tuesday? Here are a few things to watch:
ASX 200 expected to open flat.
The S&P/ASX 200 index will return from the Easter break this morning and is expected to trade flat. Current SPI futures are pointing to the market remaining unchanged at the open. On Wall Street the Dow Jones fell 1.4%, the S&P 500 dropped 1%, and the Nasdaq rose 0.5%. The latter was driven partly by a strong gain by Netflix.
Oil prices mixed despite production cuts.
Energy producers including Santos Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) will be on watch today following a mixed night for oil prices. According to Bloomberg, the WTI crude oil price fell 1.3% to US$22.47 a barrel and the Brent crude oil price rose 1.3% to US$31.88 a barrel. Supply concerns offset massive production cuts by OPEC and its allies.
Afterpay update.
The Afterpay Ltd (ASX: APT) share price will be on watch today. The payments company is scheduled to release its latest business update this morning. This release will include an update on its performance in the March quarter. A number of its competitors released their latest numbers last week and revealed further strong growth.
G8 Education to return.
The G8 Education Ltd (ASX: GEM) share price is scheduled to return from its suspension on Tuesday. The childcare centre operator is undertaking a $301 million equity raising. These funds are being raised at a 26% discount to its last close price and will be used to repay debt, increase cash on hand, and pay transaction costs. This is expected to position G8 Education for further growth opportunities during and beyond the recovery phase. The company also announced the suspension of its dividend.
Gold price pushes higher.
Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch today after the gold price pushed higher. According to CNBC, the spot gold price pushed 0.65% higher to US$1,764.40 an ounce. This took the gold price beyond a 7-year high.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
