On Monday, the S&P/ASX 200 Index (ASX: XJO) fought back from a poor start to end the day with a small gain. The benchmark index rose 0.1% to 7,076.5 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
ASX 200 expected to edge lower
The Australian share market is set to fall on Tuesday despite a positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 9 points or 0.15% lower. In the United States, the Dow Jones was up 0.1%, S&P 500 rose 0.4%, and NASDAQ climbed 0.45%.
Oil prices mixed
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a subdued session after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is down 0.1% to US$89.95 a barrel and the Brent crude oil price is up 0.15% to US$93.40 a barrel. Traders appear to be weighing up demand concerns and supply risks.
The Star Entertainment Group Ltd (ASX: SGR) share price will be on watch on Tuesday (if it returns to trade) after the casino operator announced further capital structure initiatives. Star is raising $750 million via an equity raising and $450 million from new debt facilities. These funds are designed to provide Star with increased financial flexibility to address known and expected liabilities over the medium term, as well as help finance the ongoing needs of the business.
Gold price falls
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a tough session after the gold price fell overnight. According to CNBC, the spot gold price is down 0.55% to US$1,934.8 an ounce. Higher interest rate expectations weighed on the precious metal.
Rinehart buys more Liontown shares
Liontown Resources Ltd (ASX: LTR) shares will be in focus today after a change of substantial shareholder notice revealed that Gina Rinehart has increased her position in the lithium developer to over 10%. Rinehart's Hancock Prospecting now owns approximately 235.5 million shares, up from 169.9 million two weeks ago.