On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a disappointing decline. The benchmark index fell 0.55% to 8,249.5 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 edge higher
The Australian share market is expected to rebound slightly on Tuesday following a relatively positive start to the week in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 6 points or 0.1% higher. In late trade on Wall Street, the Dow Jones is down 0.1%, but the S&P 500 is up 0.5% and the Nasdaq is up 1.2%.
Elders goes ex-dividend
The Elders Ltd (ASX: ELD) share price is going ex-dividend this morning and could trade lower. Last month, the agribusiness company released its full year results and reported a 38% decline in underlying profit after tax to $64 million. This led to the company cutting its dividend by 22% for the year. This includes a partially franked 18 cents per share final dividend. The company's shares are going ex-dividend for this dividend today with eligible shareholders being paid it next month on 24 January.
Oil prices fall
It looks set to be a poor session for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) on Tuesday after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.8% to US$70.71 a barrel and the Brent crude oil price is down 0.8% to US$73.92 a barrel. This was driven by soft economic data out of China.
Macquarie dividend
It is a good day to own Macquarie Group Ltd (ASX: MQG) shares. That's because today is pay day for eligible shareholders of the investment bank. Last month, Macquarie released its half year results and reported a 14% increase in net profit to $1,612 million. This allowed the bank to declare a partially franked $2.60 per share interim dividend, which is being paid later today.
Gold price edges lower
ASX 200 gold miners including Bellevue Gold Ltd (ASX: BGL) and Regis Resources Limited (ASX: RRL) could have a subdued session on Tuesday after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.15% to US$2,671.6 an ounce. Traders appear nervous ahead of the next US Federal Reserve meeting later this week.
