On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a small decline. The benchmark index fell 0.2% to 7,426.4 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 edge higher on Tuesday following a positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 9 points or 0.1% higher. In late trade in the United States, the Dow Jones is up 0.1%, the S&P 500 is up 0.6%, and the NASDAQ is 0.8% higher.
Neuren given buy rating
Neuren Pharmaceuticals Ltd (ASX: NEU) shares are good value despite rising 30% on Monday. That's the view of analysts at Bell Potter, which have upgraded its shares to a buy rating and lifted their price target by 54% to $27.00. This follows the release of strong top-line results from the Phase 2 trial evaluating NNZ-2591 for patients with Phelan-McDermid syndrome.
Oil prices rise
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a positive session after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 1.45% to US$72.46 a barrel and the Brent crude oil price is up 1.85% to US$77.88 a barrel. Oil prices rose in response to a Red Sea tanker attack.
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent session after the gold price rose overnight. According to CNBC, the spot gold price is up 0.3% to US$2,041.3 an ounce. A softer US dollar boosted prices.
Dividend payday
A number of ASX 200 shares will be rewarding their shareholders with their latest dividend payments on Tuesday. This includes gaming technology company Aristocrat Leisure Limited (ASX: ALL), investment bank Macquarie Group Ltd (ASX: MQG), and Australia's oldest bank, Westpac Banking Corp (ASX: WBC). The latter is paying 72 cents per share to shareholders.
