On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a small decline. The benchmark index dropped 0.25% to 8,849.6 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
The Australian share market looks set to fall on Tuesday despite a good start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 27 points or 0.3% lower. In the United States, the Dow Jones was up 0.25%, the S&P 500 rose 0.2%, and the Nasdaq pushed 0.45% higher.
ASX 200 shares going ex-dividend
More ASX 200 shares are due to go ex-dividend on Tuesday and could trade lower. Today's group includes biotechnology leader CSL Ltd (ASX: CSL), steel producer BlueScope Steel Ltd (ASX: BSL), media giant News Corp (ASX: NWS), and New Zealand telco Spark New Zealand Ltd (ASX: SPK). In respect to CSL, last month it released its FY 2025 results and declared a final dividend equating to 248.5 cents per share. This will be paid to eligible shareholders early next month on 3 October.
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 pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.9% to US$62.43 a barrel and the Brent crude oil price is up 1.1% to US$66.20 a barrel. Traders were buying oil after deciding that OPEC's planned output increase in October is modest.
Lynas shares rated as a sell
The Lynas Rare Earths Ltd (ASX: LYC) share price is overvalued according to analysts at Bell Potter. According to the note, the broker has put a sell rating and $9.35 price target on the rare earths producer's shares. It said: "We do recognise that the current themes pushing LYC higher are likely to persist as tailwinds over the short term. We have seen the US play its hand with the MP Materials deal; this could form a blueprint for other sovereign investments. Despite this, we believe LYC is priced for perfection, with little room for error."
Gold price rises again
ASX 200 gold shares such as Evolution Mining Ltd (ASX: EVN) and Ramelius Resources Ltd (ASX: RMS) could have a good session on Tuesday after the gold price pushed higher again overnight. According to CNBC, the gold futures price is up 0.65% to US$3,676.2 an ounce. Traders were bidding gold higher on increased US rate cut bets.
