5 things to watch on the ASX 200 on Tuesday

Contented looking man leans back in his chair at his desk and smiles.

On Monday, the S&P/ASX 200 Index (ASX: XJO) was out of form and sank deep into the red. The benchmark index fell 1.45% to 8,505.3 points.

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

ASX 200 to rebound

The Australian share market looks set to jump on Tuesday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 95 points or 1.1% higher. In the United States, the Dow Jones rose 0.3%, but the S&P 500 edged 0.1% lower and the Nasdaq dropped 0.5%.

Oil prices mixed

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) will be on watch on Tuesday after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.75% to US$106.23 a barrel and the Brent crude oil price is down 0.4% to US$108.82 a barrel. This follows reports that Donald Trump has called off a planned attack on Iran on Tuesday.

TechnologyOne results

All eyes will be on TechnologyOne Ltd (ASX: TNE) shares on Tuesday when the enterprise software provider releases its half-year results. Bell Potter is expecting a strong result. It said: “We forecast PBT growth of 9% to $89.4m while VA consensus is growth of 8% to $88.4m. The area which could surprise, however, in our view is ARR where there is no guidance for H1 but both we and VA consensus forecast a 17% increase y-o-y to c.$600m.”

Gold price edges higher

ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) will be on watch on Tuesday after the gold price edged higher overnight. According to CNBC, the gold futures price is up slightly to US$4,563.1 an ounce. Gold rose in response to a weaker US dollar.

Buy Elders shares

Elders Ltd (ASX: ELD) shares could be in the buy zone after crashing 22% on Monday. In response to the agribusiness company’s half-year results, Bell Potter has retained its buy rating with a reduced price target of $6.45 (from $9.00). It said: “1H26 was a consensus miss on higher SYSMOD linked costs and to a degree reflects dual running costs that should reduce into FY27e. However, this was poorly communicated and largely mitigated the benefit of operating leverage. Delivering on the promise of Delta, backward integration and SYSMOD, while unwinding duplicate cost structures are central to EPS growth, but this needs to be done in a potentially more difficult 2HCY26 seasonal backdrop with a CEO transition.”

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

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