On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) started the week with a gain of 0.21% to 5,841.3 points thanks largely to solid gains in the resources sector.
Will the Australian share market be able to build on this on Tuesday? Here are five things that could shape the day ahead:
ASX futures are pointing to a positive day.
According to the latest ASX futures, the Australian share market is poised to open the day higher by 5 points or 0.1% following solid gains in U.S. markets overnight. At the time of writing the Dow Jones Industrial Average is up 0.9%, the S&P 500 is 0.8% higher, and the NASDAQ is on course to finish the day 0.7% higher.
The Royal Commission continues.
Commonwealth Bank of Australia (ASX: CBA), the rest of the big four banks, and AMP Limited (ASX: AMP) will be on watch as the Royal Commission continues investigating dodgy advice from financial planners on Tuesday. On Monday the Commission was told by corporate regulator ASIC that $383 million in compensation has been paid to consumers for poor advice.
Bank of Queensland is due to release its results.
This morning Bank of Queensland Limited (ASX: BOQ) is due to release its first-half results for FY 2018. Morgans have tipped the bank to announce a special dividend alongside its results. Furthermore, the result will provide investors with a snapshot of how the big four banks are performing in FY 2018.
Other results due for release.
It isn’t just the Bank of Queensland scheduled to release its results today. Oil Search Limited (ASX: OSH) is also pencilled in for a release. In addition to this, according to Bloomberg, engineering company Cimic Group Ltd (ASX: CIM) is expected to provide its first-quarter update this morning.
The Reserve Bank of Australia’s minutes from its latest meeting are due to be released later this morning. While no bombshells are expected to be found within the minutes, they should provide investors with a clearer picture on whether a rate rise will come in 2018. The general consensus appears to be that there will be no increase to rates this year, so anything contrary to that could shake the market.
- Could the Litecoin price go gangbusters?
- Turning $10,000 into $8 million Was Just the Beginning For 1 Man
- How Labor's franking credit reforms sink Telstra shares
- 5 shares I'd buy with $50,000 today
- Will Cochlear shares crack $200?
- 3 quality small caps I’d buy for the dividend
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.