On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in the red. The benchmark index fell 1% to 8,157.8 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 fall again
The Australian share market is expected to fall again on Tuesday following a poor start to the week in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 22 points or 0.3% lower. On Wall Street, the Dow Jones was down 0.25%, the S&P 500 fell 0.65%, and the Nasdaq was 0.75% lower.
WiseTech investor update
All eyes will be on WiseTech Global Ltd (ASX: WTC) shares today when the logistics solutions technology company releases its investor update. This is likely to include an update on its performance during the third quarter and, importantly, its guidance for FY 2025. WiseTech downgraded its guidance earlier this year due to product launch delays. Investors will no doubt be hoping that everything is now back on track.
Oil prices hit multi-year low
It could be a tough session for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices fell again overnight. According to Bloomberg, the WTI crude oil price is down 1.9% to US$57.17 a barrel and the Brent crude oil price is down 1.6% to US$60.29 a barrel. Oil prices fell to their lowest level since 2021 after OPEC agreed to increase production next month.
Buy Life360 shares
Life360 Inc. (ASX: 360) shares are a buy according to Bell Potter. This morning, the broker has reaffirmed its buy rating on the location technology company's shares with an improved price target of $28.15. It said: "Potential catalysts for the stock include a strong Q1 result next week, announcement of new advertising partnerships and any reduction in commissions charged by Apple on the App Store. "
Gold price jumps
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a great session on Tuesday after the gold price jumped overnight. According to CNBC, the gold futures price is up 3% to US$3,341.9 an ounce. This was driven by a weaker US dollar and safe haven demand.
