On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with the smallest of gains. The benchmark index rose 4.3 points to 8,686.4 points.
Will the market be able to build on this on Tuesday? Here are five things to watch:
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ASX 200 to rise
The Australian share market looks set to rise on Tuesday following a good start to the week in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day 27 points or 0.3% higher. On Wall Street, the Dow Jones rose 0.2%, the S&P 500 climbed 0.65%, and the Nasdaq stormed 1.05% higher.
Buy Amplitude shares
The team at Bell Potter thinks Amplitude Energy Ltd (ASX: AEL) shares are good value at current levels. This morning, the broker was pleased to see Amplitude Energy's net September 2026 quarterly gas production come in ahead of expectations at 7.4PJ. In response, it has retained its buy rating with a $2.45 price target. It said: "AEL is a pure-play leverage to the southern east coast Australian gas market with the majority of its gas sales under stable contracted prices. The company's flagship 100%-owned Gippsland Basin asset is now consistently operating at nameplate capacity above 70TJ/day; debottlenecking could see incremental improvements."
Oil prices fall
ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a tough session on Tuesday after oil prices dropped overnight. According to Bloomberg, the WTI crude oil price is down 1.95% to US$89.39 a barrel and the Brent crude oil price is down 1.8% to US$100.42 a barrel. Traders were selling oil after Middle East crude exports increased.
Transurban given trim rating
Transurban Group (ASX: TCL) shares are fully valued according to Morgans. In response to its Sydney tollroads deal, the broker has retained its trim rating with a reduced price target of $12.03. It said: "TCL has increased its exposure to the Sydney market via acquisition of additional equity stakes in key tollroads. While we view positively the deployment by TCL of capital into markets and assets that it knows well, we struggle to see the cashflow benefit for investors at the acquisition price paid particularly in the context of the higher rate environment."
Gold price edges higher
ASX 200 gold shares Genesis Minerals Ltd (ASX: GMD) and Capricorn Metals Ltd (ASX: CMM) could have a relatively positive session after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.1% to US$4,166.7 an ounce. This was driven by softening US rate hike expectations.
