On Monday, the S&P/ASX 200 Index (ASX: XJO) was out of form and ended the day lower again. The benchmark index fell 0.5% to 8,701.8 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 edge higher
The Australian share market looks set to rise slightly on Tuesday following a relatively positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.15% higher. In the United States, the Dow Jones rose 0.2%, the S&P 500 climbed 0.2%, and the Nasdaq edged 0.1% higher.
Oil prices jump
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 3.3% to US$98.58 a barrel and the Brent crude oil price is up 3.2% to US$104.54 a barrel. This follows comments from Donald Trump suggesting that the US and Iran ceasefire is on thin ice.
Life360 quarterly results
All eyes will be on Life360 Inc. (ASX: 360) shares on Tuesday when the family safety technology company releases its quarterly update. Commenting on expectations, Bell Potter said: "Our key forecasts for Q1 are global MAUs of 98.4m (equates to a q-o-q increase of 2.6m or y-o-y growth of 17.6%), total paying circles of 2.93m (q-o-q increase of 99k), revenue of US$137.5m (y-o-y growth of 33%) and adjusted EBITDA of US$14.5m (equates to a margin of 10.5%). Our view is that our Q1 forecasts are consistent with or slightly below the market so importantly both we and the market are at a level where there is probably now more upside than downside risk to the result."
Gold price rises
ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a decent session on Tuesday after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.3% to US$4,744.2 an ounce. Gold ticked up as the market worked through US-Iran updates and awaits US inflation data.
CSL shares given hold rating
CSL Ltd (ASX: CSL) shares started the week with a hugely disappointing 16% decline after another guidance downgrade. In response, this morning Bell Potter has retained its hold rating with a reduced price target of $100.00 (from $155.00). It said: "We think a discount is warranted for CSL considering the declining underlying earnings outlook across FY26-27, the lack of stable management, and series of credibility hits following several disappointing results/trading updates. CSL is trading on ~12x our forecast NPATA for FY27."
