5 things to watch on the ASX 200 on Tuesday

Another busy day is expected on the ASX 200 on Tuesday…

Young man with laptop watching stocks and trends while thinking

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Monday the S&P/ASX 200 Index (ASX: XJO) started the week on a much-needed positive note after a poor run. The benchmark index finished the day 0.4% higher at 7,489.9 points.

Will the market be able to build on this on Tuesday? Here are five things to watch:

ASX 200 expected to edge higher

The Australian share market is expected to rise slightly on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points higher this morning. This follows a very positive start to the week on Wall Street, which saw the Dow Jones rise 0.6%, the S&P 500 climb 0.85%, but the Nasdaq storm 1.6% higher.

Kogan results

The Kogan.com Ltd (ASX: KGN) share price will be on watch this morning when it releases its full year results. While the ecommerce company has pre-released some of its numbers, there's still a lot to look out for. This includes its profit for the year, an update on its inventory issues, and a trading update for the first seven weeks of FY 2022. The latter is expected to have been boosted by lockdowns.

Oil prices jump

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a strong day after oil prices jumped. According to Bloomberg, the WTI crude oil price is up 5.3% to US$65.42 a barrel and the Brent crude oil price has jumped 5.2% to US$68.54 a barrel. News of no new COVID cases in China and weakness in the US dollar gave oil prices a boost.

Gold price rises

It could be a good day for gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) after the gold price stormed higher. According to CNBC, the spot gold price is up 1.3% to US$1,807 an ounce. Traders were buying gold amid doubts that the US Fed will taper soon.

SEEK results

The SEEK Limited (ASX: SEK) share price will be one to watch today when it releases its full year results. According to a note out of Goldman Sachs, its analysts expect the job listings giant to report a 1% increase in revenue to $1,588 million and a 20% jump in EBITDA to $498 million. The latter compares to SEEK's guidance of $480 million and the market consensus estimate of $487 million. Looking ahead, Goldman expects "FY22 Revenue/EBITDA of A$1,166/$460mn vs. consensus A$1,166/$472mn)."

Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Happy young woman saving money in a piggy bank.
Share Market News

Buy these ASX dividend shares to beat term deposits

These shares could be superior to term deposits according to analysts.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back to the races this Tuesday.

Read more »

A young woman sits with her hand to her chin staring off to the side thinking about her investments.
Opinions

Could Soul Patts shares hit $50 in 2025?

This company jumped more than 16% yesterday.

Read more »

Stethoscope with a piggy bank in the middle.
Broker Notes

Australian health insurance: Does Macquarie prefer Medibank or NIB shares?

Medibank and NIB shares have both surged in 2025. Here’s what Macquarie expects now.

Read more »

A woman reaches her arms to the sky as a plane flies overhead at sunset.
Travel Shares

Why the Qantas share price soared 20% in May to new all-time highs

With another stellar month in May, Qantas shares are up more than 79% in a year.

Read more »

Man smiling at a laptop because of a rising share price.
Broker Notes

9 ASX 200 shares just upgraded to strong buy ratings

Brokers have upgraded these shares amid expectations of price growth over the next 12 months.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why DroneShield, Judo, Pepper Money, and Strickland shares are surging today

These shares are having a good session on Tuesday. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Elders, IDP Education, Life360, and Pilbara Minerals shares are falling today

Let's see why investors are selling these shares.

Read more »