On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in a disappointing fashion. The benchmark index fell 0.5% to 7,004 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 rebound
The Australian share market looks set for a much better session on Tuesday following a positive start to the week in the US. According to the latest SPI futures, the ASX 200 is poised to open the day 46 points or 0.65% higher. On Wall Street, the Dow Jones was up 0.6%, the S&P 500 rose 0.25%, and the NASDAQ climbed 0.2%.
Oil prices fall
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a subdued session after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.9% to US$73.20 a barrel and the Brent crude oil price is down 0.75% to US$77.87 a barrel. Interest rate hike fears weighed on oil prices.
Janus Henderson rated as a hold
The Janus Henderson Group PLC (ASX: JHG) share price is about fair value now according to Bell Potter. This morning, the broker has retained its hold rating with an improved price target of $42.64. This compares to the latest Janus Henderson share price of $39.74. While the broker is expecting a much-improved performance from the company this year, it doesn't see enough value on offer to rate it as a buy.
Gold price edges lower
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.1% to US$1,930.4 an ounce. Traders appear nervous ahead of the release of US inflation data.
InvoCare takeover
The InvoCare Limited (ASX: IVC) share price will be on watch on Tuesday. That's because TPG Capital's due diligence period has now expired and no agreement has been announced. The private equity company has been looking to acquire the funerals company for $13.00 per share. The ASX 200 share closed yesterday's session at $12.39.
