On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week with a small gain. The benchmark index rose 0.1% to 8,860.1 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
ASX 200 expected to jump
The Australian share market looks set to rise on Tuesday following a strong start to the week in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 61 points or 0.7% higher. In late trade on Wall Street, the Dow Jones is up 0.7%, the S&P 500 is up 0.7%, and the Nasdaq is also up 0.7%.
Oil prices fall
It could be a subdued session for ASX 200 energy shares Karoon Energy Ltd (ASX: KAR) and Santos Ltd (ASX: STO) after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.8% to US$60.61 a barrel and the Brent crude oil price is down 0.5% to US$65.55 a barrel. This follows a strong gain a day earlier amid output disruptions in U.S. crude-producing regions and tensions between the U.S. and Iran.
BHP and Rio Tinto on watch
BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) shares could have a good session on Tuesday after their London-listed shares charged higher overnight. Both miners finished the session almost 2% higher on the London stock exchange in response to rising commodity prices. At the end of last week, copper rose above US$13,000 on supply worries.
Gold price reaches US$5,000
ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Ramelius Resources Ltd (ASX: RMS) could have a good session on Tuesday after the gold price rose again overnight. According to CNBC, the gold futures price is up 1% to US$5,029 an ounce. This was driven by safe haven demand.
Hold Pantoro shares
Pantoro Gold Ltd (ASX: PNR) shares are fully valued according to analysts at Bell Potter. This morning, the broker has retained its hold rating on the gold miner's shares with an improved price target of $6.05. Bell Potter has concerns that Pantoro could fall short of its guidance. It said: "Heading into 2HFY26, pressure remains on guidance, which sits well outside both production and cost run-rates despite the improved December quarter performance. PNR had previously stated it was running ahead of planned production through the start of the December quarter, so the production miss has been a disappointment to the market."
