On Monday the S&P/ASX 200 Index (ASX: XJO) started the week on a disappointing note. The benchmark index finished the day 0.6% lower at 7,582.5 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
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ASX 200 expected to rise
It looks set to be a better day of trade for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% higher this morning. This follows a reasonably positive start to the week on Wall Street, which saw the Dow Jones rise 0.3%, the S&P 500 climb 0.25%, but the Nasdaq drop 0.2% higher.
BHP results
The BHP Group Ltd (ASX: BHP) share price will be on watch today when it releases its full year results. According to a note out of Goldman Sachs, its analysts expect the mining giant to report underlying EBITDA of US$37.2 million for FY 2021. This is expected to underpin a US$2.89 per share fully franked dividend.
Oil prices fall
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could be in the red today after oil prices dropped again. According to Bloomberg, the WTI crude oil price is down 1.5% to US$67.42 a barrel and the Brent crude oil price has fallen 1.3% to US$69.65 a barrel. A faltering demand outlook in China is weighing on prices. Woodside is also due to release its results today.
Gold price rises
It could be a decent day for gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) after the gold price pushed higher. According to CNBC, the spot gold price is up 0.6% to US$1,789 an ounce. Easing bond yields in the United States supported the price of the precious metal.
Breville results
Breville Group Ltd (ASX: BRG) shares could be on the move today when it hands in its full year results. The appliance manufacturer has been a strong performer in FY 2021 and is guiding to earnings before interest and tax (EBIT) of approximately $136 million for the year. This compares to normalised EBIT of $113.1 million in FY 2020.
