5 things to watch on the ASX 200 on Tuesday

A better day is expected for Aussie investors today. Here's what is happening.

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On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with an almighty drop. The benchmark index sank 1.8% to 8,379.4 points.

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

ASX 200 expected to rebound

The Australian share market is expected to rebound on Tuesday despite a relatively poor start to the week in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 67 points or 0.8% higher. In late trade on Wall Street, the Dow Jones is flat, the S&P 500 is down 0.35%, and the Nasdaq is 0.65% lower.

Buy Breville shares

Goldman Sachs thinks that Breville Group Ltd (ASX: BRG) shares would be a good option for investors right now despite trade tariffs. The broker has put a buy rating and $40.90 price target on the appliance manufacturer's shares. It said: "Net net, at the current juncture of a 10% China import tariff hike, we believe that it will not have a material impact on our FY25 forecasts though FY26 remains less certain."

Oil prices rise

It could be a decent session for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) on Tuesday after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 0.6% to US$72.94 a barrel and the Brent crude oil price is up 0.15% to US$75.74 a barrel. Traders were buying oil after the US paused its tariffs on Mexico.

Sandfire rated neutral

Sandfire Resources Ltd (ASX: SFR) shares are fully valued according to analysts at Goldman Sachs. This morning, the broker has reaffirmed its neutral rating with an improved price target of $10.40. This implies potential upside of approximately 7%. It said: "Fairly valued: trading at ~0.9x NAV (~A$11.0/sh) based on our above consensus long run copper price of ~US$4.6/lb (real $) (nominal ~US$5.3/lb), and on ~5x NTM EBITDA, broadly in-line with global copper companies. SFR is discounting a long run copper price of ~US$4.3/lb (real) on our assumptions."

Gold price storms higher

ASX 200 gold miners including Bellevue Gold Ltd (ASX: BGL) and Regis Resources Limited (ASX: RRL) could have a good session on Tuesday after the gold price stormed higher overnight. According to CNBC, the gold futures price is up 0.8% to US$2,857.9 an ounce. Safe haven demand was behind this rise.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. 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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