On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a small decline. The benchmark index fell 0.1% to 8,570.4 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 rebound 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 56 points or 0.65% higher. In the United States, the Dow Jones was up 0.2%, the S&P 500 rose 0.15%, and the Nasdaq pushed 0.3% higher.
Buy Paladin Energy shares
Paladin Energy Ltd (ASX: PDN) shares are in the buy zone according to analysts at Bell Potter. This morning, the broker has reaffirmed its buy rating on the uranium miner's shares with an improved price target of $9.20. It said: "We believe PDN will re-rate over the coming quarters, as the business shakes off negative earnings sentiment over FY25, predicated on fresh ore processing outperforming the stockpile issues which plagued FY25. Coming out of the 4QFY25 result we should have a better understanding of mining rates, ore performance and sales contracts, which, when combined with a reshuffle in CEO's, should provide positive sentiment heading into FY26."
Oil prices tumble
It could be a tough session for ASX 200 energy shares including Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 2.2% to US$66.94 a barrel and the Brent crude oil price is down 1.7% to US$69.18 a barrel. Oil prices fell after US President Donald Trump gave Russia 50 days to avoid new sanctions.
Buy Lotus shares
Another uranium share that Bell Potter is recommending is Lotus Resources Ltd (ASX: LOT). This morning, the broker has retained its speculative buy rating and 35 cents price target on its shares. It said: "We believe the market is sceptical of the restart, and partially rightly so, given the issues experienced across the space over the last 12 months. Should LOT demonstrate a successful restart and commence processing of fresh ore, we believe this would be the catalyst for re-rate."
Gold price falls
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a subdued day after the gold price edged lower overnight. According to CNBC, the gold futures price is down 0.3% to US$3,354 an ounce. Traders were taking profit after the gold price hit a three-week high.
