On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a decline. The benchmark index fell 0.45% to 9,073.2 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 to fall
The Australian share market looks set for a poor session on Tuesday following a subdued start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 45 points or 0.5% lower. In late trade in the United States, the Dow Jones is down 0.45%, the S&P 500 is down 0.4%, and the Nasdaq is 0.25% lower.
Big ASX 200 results day
It will be a big day for a number of popular ASX 200 shares on Tuesday when they release their respective results. Among the big names releasing results are mining giant BHP Group Ltd (ASX: BHP), annuities company Challenger Ltd (ASX: CGF), hearing solutions company Cochlear Ltd (ASX: COH), healthcare struggler CSL Ltd (ASX: CSL), and healthcare technology company Pro Medicus Ltd (ASX: PME). The market expects BHP to report underlying EBITDA of US$32,393 million and a dividend of A$1.56 per share.
Oil prices rise
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Tuesday after oil prices rose overnight. According to Bloomberg, the WTI crude oil price is up 2.1% to US$84.15 a barrel and the Brent crude oil price is up 2.3% to US$90.52 a barrel. Traders were bidding oil prices higher after the Iranian government ruled out an interim deal extension.
Gold price higher
ASX 200 gold shares Genesis Minerals Ltd (ASX: GMD) and Capricorn Metals Ltd (ASX: CMM) could have a positive session after the gold price rose again overnight. According to CNBC, the gold futures price is up 0.45% to US$4,457.4 an ounce. The precious metal rose in response to a weaker US dollar and fading expectations of a US Federal Reserve rate hike.
Buy JB Hi-Fi shares
JB Hi-Fi Ltd (ASX: JBH) shares crashed 12% on Monday following the release of its results. The team at Bell Potter believes this is a buying opportunity for investors. This morning, the broker has retained its buy rating with a trimmed price target of $81.00 (from $87.00). This implies potential upside of approximately 13%. It also expects a 4.4% dividend yield in FY 2027. Bell Potter commented: "While we anticipate challenging trading conditions over the next ~9 months for the overall Consumer Discretionary sector with our views of FY27 as the cyclical low point for most retailers, we see the ability of JBH to relatively outperform the peer group from 2H27e onwards."
