On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week with a small decline. The benchmark index fell 0.25% to 8,515.7 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 rise on Tuesday after two positive sessions in a row on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 23 points or 0.27% higher. In the United States, the Dow Jones was flat, the S&P 500 climbed 0.1%, and the Nasdaq pushed 0.3% higher. On Friday, all three indices charged higher in response to jobs data.
Quarterly rebalance
Austal Ltd (ASX: ASB) and Nick Scali Limited (ASX: NCK) shares will be on watch on Tuesday after the shipbuilder and furniture retailer were added to the benchmark ASX 200 index at the latest quarterly rebalance. They will be taking the place of healthcare company Healius Ltd (ASX: HLS) and coal miner Stanmore Resources Ltd (ASX: SMR) when the index rebalances on 23 June.
Oil prices rise
It could be a good 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 1.2% to US$65.37 a barrel and the Brent crude oil price is up 0.9% to US$67.09 a barrel. This was driven by optimism over US-China trade talks in London.
Buy Develop Global shares
The team at Bell Potter thinks that Develop Global Ltd (ASX: DVP) shares could be in the buy zone. This morning, the broker has retained its buy rating on the miner and underground mining contractor's shares with an improved price target of $5.00 (from $4.00). It said: "DVP has demonstrated impressive execution of workflows to date to enable a timely and within-budget restart of operations at its flagship Woodlawn operation. We expect the successful ramp-up of Woodlawn production by 1H FY26 to drive a transformation in the company's EPS outlook in FY26."
Gold price edges higher
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a relatively subdued session after the gold price edged higher overnight. According to CNBC, the gold futures price is up slightly to US$3,347.1 an ounce. Traders were buying gold ahead of the US-China trade talks.
