5 things to watch on the ASX 200 on Tuesday

On Monday, the S&P/ASX 200 Index (ASX: XJO) had a poor start to the week. The benchmark index fell 0.3% to 9,232.6 points.

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

ASX 200 to edge lower

The Australian share market looks set for a subdued session on Tuesday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points lower. In the United States, the Dow Jones fell 0.1%, the S&P 500 edged 0.05% lower, and the Nasdaq dropped 0.3%.

Buy CAR Group shares

CAR Group Limited (ASX: CAR) shares are good value according to Bell Potter. This morning, in response to the auto listings company's results, the broker has retained its buy rating and $34.60 price target on its shares. It said: "CAR's result and outlook reinforces our thesis of a preferred risk-adjusted earnings profile due to a geographically diversified network of auto and non-auto classifieds platforms, which generate cash flows to support growth investment and shareholder returns simultaneously."

Oil prices jump

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a strong session on Tuesday after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 5.1% to US$82.17 a barrel and the Brent crude oil price is up 5% to US$87.73 a barrel. This was driven by doubts over the prospects of a US-Iran deal for the Strait of Hormuz.

Gold price rises again

ASX 200 gold shares Genesis Minerals Ltd (ASX: GMD) and Capricorn Metals Ltd (ASX: CMM) could have a positive session after the gold price rose overnight. According to CNBC, the gold futures price is up 1.1% to US$4,449.6 an ounce. Traders continue to bid gold prices higher on reducing interest rate bets.

ASX 200 results

A number of ASX 200 shares will be releasing results today and will be worth watching closely. This includes diversified investment company SGH Ltd (ASX: SGH), lenders mortgage insurance provider Helia Group Ltd (ASX: HLI), automotive retailer Amotiv Ltd (ASX: AOV), and location technology company Life360 Inc. (ASX: 360). Bell Potter expects the latter to outperform paying circle expectations with the addition of 155,000 new paid users (vs consensus estimate of 135,000).

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has positions in and has recommended Life360. The Motley Fool Australia has recommended CAR Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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