On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a small decline. The benchmark index fell 0.2% to 7,417.8 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 on Tuesday following a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 40 points or 0.55% higher. In late trade in the United States, the Dow Jones is up 0.9%, the S&P 500 is up 1%, and the NASDAQ is up 1.4%.
Oil prices rise
Energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent day after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.5% to US$80.16 a barrel and the Brent crude oil price is up 0.25% to US$86.63 a barrel. Russia's plan to cut production has continued to give oil prices a boost.
CSL half-year result
The CSL Limited (ASX: CSL) share price will be one to watch on Tuesday when the biotherapeutics giant releases its eagerly anticipated half year results. According to CommSec, the market is expecting a net profit after tax of US$1.6 billion and an interim dividend of US$1.12 per share. Investors may also want to pay attention to commentary around plasma collections.
Gold price falls
It could be a tough day for gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) after the gold price fell overnight. According to CNBC, the spot gold price is down 0.5% to US$1,865.5 an ounce. Strengthening bond yields weighed on the safe haven asset.
Short squeeze coming for Breville shares?
The Breville Group Ltd (ASX: BRG) share price will be one to watch closely today. The appliance manufacturer is releasing its half year results and has been tipped as a company that could potentially surprise positively by Goldman Sachs. The broker commented: "We expect 1H23 results to offer a positive surprise vs. the Street. As a result, any short covering driven by such outperformance could push the stock higher." It expects first half sales growth of 6.2% and EBIT growth of 6.8%.
