On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week in a positive fashion. The benchmark index rose 0.8% to 7,819.1 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
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ASX 200 expected to open flat
The Australian share market is expected to open flat on Tuesday despite a bad start to the week in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day where it finished last week. On Wall Street, the Dow Jones was down 2.5%, the S&P 500 fell 2.35%, and the Nasdaq was 2.55% lower.
Buy AMP shares
AMP Ltd (ASX: AMP) shares could be in the buy zone according to analysts at Goldman Sachs. According to a note from this morning, the broker has upgraded the financial services company's shares to a buy rating with a $1.40 price target. It said: "We are Buy rated on AMP. We like AMP because: 1) We remain optimistic on further potential opportunity for capital releases outside of dividends and potential monetization of equity stakes. 2) Strong focus on cost out which is expected to continue to play out. 3) Legacy issues are being resolved albeit some remnant risks remain. 4) Valuation appeal."
Oil prices fall
It could be a poor session for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 2.1% to US$63.34 a barrel and the Brent crude oil price is down 2.1% to US$66.54 a barrel. This was driven by signs of progress in US-Iran talks.
Pilbara Minerals shares rated as buys
Pilbara Minerals Ltd (ASX: PLS) shares are a buy according to analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating on the lithium miner's shares with a $2.00 price target. It said: "While we expect lithium prices to remain volatile, we hold a robust EV-demand driven long-term market outlook and believe higher prices are required to incentivise new sources of supply."
Gold price jumps
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a strong session on Tuesday after the gold price jumped overnight. According to CNBC, the gold futures price is up 3.2% to US$3,434 an ounce. The gold price hit a record high after US President Trump insisted that Fed Chair Jerome Powell reduce interest rates.
