On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a small decline. The benchmark index fell 0.25% to 8,414.1 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 rise on Tuesday after a decent start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 74 points or 0.9% higher. In the United States, the Dow Jones was up 0.1%, the S&P 500 climbed 0.4%, and the Nasdaq pushed 0.7% higher.
Elders goes ex-dividend
Elders Ltd (ASX: ELD) shares are going ex-dividend this morning and could trade lower. Last week, the agribusiness company released its half year results and declared a partially franked interim dividend of 18 cents per share. Eligible shareholders can now look forward to receiving this payout later this month on 27 June.
Oil prices jump
It could be a great session for ASX 200 energy shares including Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 3.9% to US$63.14 a barrel and the Brent crude oil price is up 3.9% to US$65.22 a barrel. This was driven by a fall in US rigs and OPEC making steady increases to its output.
Buy Bega Cheese shares
The team at Bell Potter thinks that Bega Cheese Ltd (ASX: BGA) shares could be in the buy zone. This morning, the broker has retained its buy rating and $7.00 price target on the diversified food company's shares. It said: "Our Buy rating is unchanged. BGA continues to execute against its strategy to deliver FY28e EBITDA of >$250m, which will also likely result in a deleveraging of the balance sheet in FY27-28e. If successful in delivering on these initiatives and sustaining its historical 10yr average trading multiple then the upside remains compelling, with an upside target of $8.00-8.50ps."
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good session after the gold price charged higher overnight. According to CNBC, the gold futures price is up 2.7% to US$3,379.1 an ounce. This was driven by a weaker US dollar and rising geopolitical and trade tensions.
