On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week in a positive session. The benchmark index rose 0.4% to 8,844.8 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 fall
The Australian share market looks set to fall on Tuesday following a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 15 points or 0.2% lower. In late trade in the United States, the Dow Jones is down 0.6%, the S&P 500 is 0.4% lower, and the Nasdaq has fallen 0.45%.
Life360 results
Life360 Inc (ASX: 360) shares will be on watch today when the location technology company releases its second quarter update. According to a note out of Bell Potter, its analysts are forecasting a 29% increase in revenue to US$109.1 million and a 16% lift in adjusted EBITDA to US$12.8 million. This is expected to be driven by a 26% jump in global monthly active users to 88.6 million and a 24% increase in paying circles to 2.52 million.
Oil prices rise
It could be a good session for ASX 200 energy shares Karoon Energy Ltd (ASX: KAR) and Santos Ltd (ASX: STO) after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 0.4% to US$64.12 a barrel and the Brent crude oil price is up 0.3% to US$66.79 a barrel. This appears to have been driven by bargain hunting after recent weakness.
Buy Neuren shares
Neuren Pharmaceuticals Ltd (ASX: NEU) shares are in the buy zone according to Bell Potter. This morning, the broker has reaffirmed its buy rating on the pharmaceuticals company's shares with an improved price target of $22.00. It said: "The Daybue royalty stream is an increasingly stable and growing source of income and worth ~$9/share in discounted present value terms in our view (excl. the current cash balance of ~$3/sh). The key driver for NEU in the next 1-2 years will be progress in late-stage clinical trials for its second drug candidate, NNZ-2591, which we anticipate will start Phase 3 recruitment in Phelan McDermid syndrome in the current quarter."
Gold price sinks
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Ramelius Resources Ltd (ASX: RMS) could have a difficult session after the gold price sank overnight. According to CNBC, the gold futures price is down 2.5% to US$3,403.3 an ounce. This was driven by news that US President Donald Trump won't be placing tariffs on gold.
