5 things to watch on the ASX 200 on Tuesday

The ASX 200 is expected to rise this morning.

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On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a small decline. The benchmark index fell 0.2% to 7,426.4 points.

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

ASX 200 expected to edge higher

The Australian share market is expected to edge higher on Tuesday following 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 0.1% higher. In late trade in the United States, the Dow Jones is up 0.1%, the S&P 500 is up 0.6%, and the NASDAQ is 0.8% higher.

Neuren given buy rating

Neuren Pharmaceuticals Ltd (ASX: NEU) shares are good value despite rising 30% on Monday. That's the view of analysts at Bell Potter, which have upgraded its shares to a buy rating and lifted their price target by 54% to $27.00. This follows the release of strong top-line results from the Phase 2 trial evaluating NNZ-2591 for patients with Phelan-McDermid syndrome.

Oil prices rise

ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a positive session after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 1.45% to US$72.46 a barrel and the Brent crude oil price is up 1.85% to US$77.88 a barrel. Oil prices rose in response to a Red Sea tanker attack.

Gold price rises

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent session after the gold price rose overnight. According to CNBC, the spot gold price is up 0.3% to US$2,041.3 an ounce. A softer US dollar boosted prices.

Dividend payday

A number of ASX 200 shares will be rewarding their shareholders with their latest dividend payments on Tuesday. This includes gaming technology company Aristocrat Leisure Limited (ASX: ALL), investment bank Macquarie Group Ltd (ASX: MQG), and Australia's oldest bank, Westpac Banking Corp (ASX: WBC). The latter is paying 72 cents per share to shareholders.

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation and Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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