On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in a positive fashion. The benchmark index rose 0.8% to 7,854.1 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
ASX 200 expected to rise again
The Australian share market is expected to rise again on Tuesday following a strong session in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 59 points or 0.75% higher. In late trade on Wall Street, the Dow Jones is up 1.1%, the S&P 500 has risen 1%, and the Nasdaq is 0.75% higher.
Buy Premier Investments shares
The Premier Investments Ltd (ASX: PMV) share price could have major upside potential according to analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating with a trimmed price target of $30.00 (from $34.00). This implies potential upside of almost 45% for investors from current levels. It said: "We view PMV as trading at a discount to the rest of our coverage post the market sell-off, considering the Premier Retail division with two global roll-out worthy brands and a P/E of ~12x excluding equity investments, land bank/cash."
Oil prices fall
It could be a decent session for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 0.55% to US$67.55 a barrel and the Brent crude oil price is up 0.65% to US$71.02 a barrel. Oil prices rose after US President Donald Trump said he would hold OPEC member Iran responsible for any future attacks by the Houthis.
New Hope half year results
The New Hope Corporation Ltd (ASX: NHC) share price will be on watch on Tuesday when the coal miner releases its half year results. The company expects to report an underlying EBITDA of $517.3 million for the first half of FY 2025. This is up approximately 22% from $424.8 million a year earlier, which could be good news for its interim dividend. Last year it paid a 17 cents per share fully franked interim dividend, so it is possible an increase could be coming this morning.
Gold price rises
ASX 200 gold miners Gold Road Resources Ltd (ASX: GOR) and Regis Resources Limited (ASX: RRL) could have a positive session on Tuesday after the gold price rose overnight. According to CNBC, the gold futures price is up 0.2% to US$3,007.7 an ounce. The precious metal rose above the US$3,000 mark ahead of the US Fed's rates decision.
