On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a decline. The benchmark index fell 0.5% to 7,451.5 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
Image Source: Getty Images
ASX 200 expected to surge
The Australian share market is expected to rebound strongly on Tuesday following a very positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 71 points or 0.95% higher. In late trade in the United States, the Dow Jones is up 0.35%, the S&P 500 is up 1.15%, and the NASDAQ is 1.9% higher.
Premier Investments goes ex-dividend
The Premier Investments Limited (ASX: PMV) share price could come under pressure today when it goes ex-dividend for the retail giant's latest dividend. Late last year, the Peter Alexander and Smiggle owner declared a final fully franked dividend of 60 cents per share. This will be paid to eligible shareholders later this month on 24 January.
Oil prices tumble
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a difficult session after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 3.8% to US$71.01 a barrel and the Brent crude oil price is down 3.1% to US$76.32 a barrel. This follows news that Saudi Arabia has slashed its prices, sparking fears about demand.
Treasury Wine rated as a buy
Goldman Sachs believes that Treasury Wine Estates Ltd (ASX: TWE) shares are in the buy zone right now. This morning, its analysts have retained their buy rating and $12.40 price target on the wine giant's shares. This implies a potential upside of almost 23% over the next 12 months.
Gold price falls
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a poor session after the gold price fell overnight. According to CNBC, the spot gold price is down 0.7% to US$2,034.8 an ounce. The gold price fell to a three-week low ahead of the release of inflation data.
