On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a decline. The benchmark index fell 0.3% to 7,988.1 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 is expected to rebound on Tuesday following a strong start to the week in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 60 points or 0.75% higher. On Wall Street, the Dow Jones rose 1.2%, the S&P 500 climbed 1.15%, and the Nasdaq also climbed 1.15%.
Buy Premier Investments shares
Premier Investments Limited (ASX: PMV) shares are great value according to analysts at Bell Potter. In response to a trading update from the Peter Alexander and Smiggle owner, the broker has retained its buy rating with an improved price target of $37.00. It said: "We await updates on the Smiggle leadership transition given the termination of the current CEO today & AB/MYR demerger. We see catalysts related to 1H25 trading trends at the FY result & demerger updates, thereby view PMV's P/E multiple of ~16x (FY26e, BPe) as attractive. Retain BUY."
Oil prices recovers
It could be a better session for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices rebounded overnight. According to Bloomberg, the WTI crude oil price is up 1.3% to US$68.57 a barrel and the Brent crude oil price is up 0.9% to US$71.70 a barrel. Traders appear to believe that recent selling has been overdone and were buying the dip.
ASX 200 shares go ex-dividend
A number of ASX 200 shares are likely to trade lower this morning when they trade ex-dividend. This includes automotive retailer Eagers Automotive Ltd (ASX: APE), steel products manufacturer BlueScope Steel Limited (ASX: BSL), and media giant News Corporation (ASX: NWS). In respect to the former, Eagers Automotive will be paying a fully franked final dividend of 24 cents per share to eligible shareholders later this month on 20 September.
Gold price rises
ASX 200 gold miners Gold Road Resources Ltd (ASX: GOR) and Regis Resources Limited (ASX: RRL) could have a good session after the gold price rose overnight. According to CNBC, the gold futures price is up 0.4% to US$2,535.2 an ounce. Rate cut hopes helped drive the precious metal higher.
