On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a disappointing decline. The benchmark index fell 0.6% to 8,565.2 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 rise
The Australian share market looks set to rise on Tuesday despite a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 23 points or 0.25% higher. In late trade in the United States, the Dow Jones is down 0.65%, the S&P 500 is 0.4% lower, and the Nasdaq has fallen 0.3%.
Oil prices charge higher
It could be a good session for ASX 200 energy shares Karoon Energy Ltd (ASX: KAR) and Santos Ltd (ASX: STO) after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 1.35% to US$59.33 a barrel and the Brent crude oil price is up 1.3% to US$63.20 a barrel. This was driven by supply concerns following an attack on a Black Sea terminal.
Collins Foods half year results
Collins Foods Ltd (ASX: CKF) shares will be on watch today when the quick service restaurant operator releases its half year results. A strong result is expected from the KFC operator, with management guiding to "year-on-year FY26 Group underlying NPAT (post AASB 16) growth in the low to mid-teens" on a percentage basis. KFC Australia same store sales are expected to increase 2.1% during the first half.
Hold Imdex shares
Imdex Ltd (ASX: IMD) shares are a fairly valued according to analysts at Bell Potter. This morning, the broker has retained its hold rating on the mining product technology solutions provider's shares with a trimmed price target of $3.60 (from $3.80). It said: "Our Target Price is lowered to $3.60/sh after applying a higher WACC 8.7% (previously 7.8%). Value accretion from the ALT and MSI acquisitions is dependent on meaningful incremental revenue generation over the three year period post deal completion. For example, achieving 25% of the incremental revenue share earn-out cap (our base case) should deliver an implied acquisition multiple of 7.1x (EV / FY28 EBITDA), less than IMD's 9.6x (in FY28). Implied upfront valuation multiple is closer to 20.6x FY26 EBITDA."
Gold price rises
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Ramelius Resources Ltd (ASX: RMS) could have a decent session on Tuesday after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.4% to US$4,271.5 an ounce. Gold hit a six-week high on increased US rate cut bets.
