On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in a subdued fashion. The benchmark index fell 0.2% to 7,278.5 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 expected to rise
The Australian share market looks set to rise today despite a poor night of trade in the US. According to the latest SPI futures, the ASX 200 is poised to open the day 78 points or 1.05% higher. In late trade on Wall Street, the Dow Jones is down 0.9%, the S&P 500 has fallen 0.4%, and the Nasdaq is down 0.9%. This follows comments by US Fed Chair, Jerome Powell, stating that inflation is too high.
Oil prices jump
Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a great day after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 7.3% to US$112.32 a barrel and the Brent crude oil price has risen 7.7% to US$116.24 a barrel. This was driven by speculation that the EU will ban Russian oil.
TechnologyOne rated as a buy
The TechnologyOne Ltd (ASX: TNE) share price could be in the buy zone according to Bell Potter. This morning the broker retained its buy rating but trimmed its price target to $14.00. This implies potential upside of 26% for investors. Bell Potter believes that customer flips to the company's software-as-a-service solution are likely to be accelerating.
Gold price rises
Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a better day after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.25% to US$1,934.50 an ounce. Demand for safe haven assets boosted the precious metal.
Shares going ex-dividend
A couple of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes toll road operator Atlas Arteria Group (ASX: ALX) and health supplements company Blackmores Limited (ASX: BKL).
