5 things to watch on the ASX 200 on Tuesday

A good session is expected for Aussie investors today.

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On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a small gain. The benchmark index rose 0.1% to 8,221.5 points.

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

ASX 200 expected to rise again

The Australian share market is expected to rise again on Tuesday following a good start to the week in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 38 points or 0.45% higher. In late trade on Wall Street, the Dow Jones is up 0.7%, the S&P 500 is up 0.4%, and the Nasdaq is up 0.4%.

IGO shares rated as a buy

The IGO Ltd (ASX: IGO) share price is good value according to the team at Goldman Sachs. This morning, the broker has reaffirmed its buy rating with a trimmed price target of $6.20. This implies potential upside of 16% for investors. It said: "We rate IGO as Buy relative to our lithium coverage, where on valuation IGO is trading on 0.8x NAV and pricing ~US$965/t spodumene, at a discount to peers (~1x NAV and ~US$1,025/t), with near-term FCF yields remaining positive and attractive vs. peers (<0% on average)."

Oil prices crash

It could be a difficult session for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) on Tuesday after oil prices crashed overnight. According to Bloomberg, the WTI crude oil price is down 5.8% to US$67.60 a barrel and the Brent crude oil price is down 5.75% to US$71.68 a barrel. Traders were selling oil after Israel spared Iranian crude oil facilities.

CSL annual general meeting

CSL Ltd (ASX: CSL) shares will be on watch on Tuesday when the biotechnology giant holds its annual general meeting. It is possible that the plasma therapies provider will release a first quarter trading update at the event. Elsewhere, Ansell Ltd (ASX: ANN), Credit Corp Group Limited (ASX: CCP), and Kelsian Group Ltd (ASX: KLS) are also holding their annual general meetings today and could provide updates.

Gold price edges lower

ASX 200 gold miners Gold Road Resources Ltd (ASX: GOR) and Regis Resources Limited (ASX: RRL) could have a subdued session after the gold price edged lower overnight. According to CNBC, the gold futures price is down slightly to US$2,754 an ounce. The gold price came under pressure after treasury yields climbed.

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Goldman Sachs Group. The Motley Fool Australia has recommended Ansell and CSL. 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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