On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a disappointing decline. The benchmark index rose 0.9% to 8,699.9 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 edge higher
The Australian share market looks set to rise again on Tuesday following a decent start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 6 points higher. In late trade in the United States, the Dow Jones is up 0.5%, the S&P 500 is 0.6% higher, and the Nasdaq is up 0.5%.
Oil prices jump
It could be a good session for ASX 200 energy shares such as Karoon Energy Ltd (ASX: KAR) and Santos Ltd (ASX: STO) after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 2.7% to US$58.06 a barrel and the Brent crude oil price is up 2.7% to US$62.11 a barrel. Traders were buying oil after Donald Trump took action against Venezuelan tankers.
Elders dividend
It is a good day to be a shareholder of agribusiness company Elders Ltd (ASX: ELD). Later today, the company will be rewarding them with their latest dividend payment. Last month, Elders released its FY 2025 results and reported a 34% jump in underlying net profit after tax. This allowed the company's board to declare a fully franked final dividend of 18 cents per share.
Gold price storms higher
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 stormed higher overnight. According to CNBC, the gold futures price is up 1.8% to US$4,467.4 an ounce. The precious metal hit a record high on US rate cut optimism and increased safe haven demand.
BHP and Rio Tinto set to rise
It could be another good day for miners such as BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) on Tuesday. Both mining giants are up around 2% in late trade on Wall Street, which bodes well for today's performance. Rio Tinto's NYSE listed shares have hit a 52-week high overnight, whereas BHP's NYSE listed shares are just a fraction short.
