Happy Lunar New Year! On Monday, the S&P/ASX 200 Index (ASX: XJO) fought hard but ended the day in the red. The benchmark index fell 0.25% to 6,971.6 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 futures flat
The Australian share market could have a good day on Tuesday despite SPI futures currently pointing to a flat day ahead. This is because Wall Street is on fire in late trade with the Dow Jones up 0.8%, the S&P 500 up 1.5%, and the Nasdaq up a sizeable 2.7%. The Reserve Bank's impending meeting could be having some impact on futures trading.
Credit Corp half year results
The Credit Corp Group Limited (ASX: CCP) share price will be on watch today when it releases its half year results. According to CommSec, the market is expecting the debt collection company to deliver a half year profit of $42.7 million and an interim dividend of 38 cents per share.
Oil prices rise
Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a good day after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 1.3% to US$87.98 a barrel and the Brent crude oil price has risen 1.3% to US$91.23 a barrel. Oil prices rose on geopolitical risks and supply concerns.
Gold price higher
Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a decent day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.7% to US$1,799.30 an ounce. Despite this gain, the gold price is on course to have its worst month since September.
PointsBet shares rated as a buy
The PointsBet Holdings Ltd (ASX: PBH) share price could be a bit of a bargain according to the team at Goldman Sachs. According to a note this morning, the broker has reiterated its buy rating on the sports betting company's shares with a trimmed price target of $9.97. Goldman continues to believe that PointsBet is "on track for transformational year ahead." This price target implies 100%+ upside for its shares.
