On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a small decline. The benchmark index edged 0.15% lower to 8,831 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 to edge lower
The Australian share market looks set for a subdued session on Tuesday despite a positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% lower. In the United States, the Dow Jones rose 0.3%, the S&P 500 climbed 0.75%, and the Nasdaq stormed 1.1% higher.
Buy Genesis Minerals shares
Genesis Minerals Ltd (ASX: GMD) shares are good value according to Bell Potter. This morning, in response to a binding merger proposal with Vault Minerals Ltd (ASX: VAU), the broker has retained its buy rating on the gold miner's shares with a trimmed price target of $9.75. It said: "The Proposed Scheme is not subject to due diligence or financing conditions and offers a materially better strategic and financial outcome than the status quo, in our view. We retain our Buy rating and lower our price target to A$9.75, on account of the recent Magnetic Resources Limited transaction completion (A$639m). The Proposed Scheme has not been incorporated pending resolution of the RRL matching right."
Oil prices edge higher
ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a positive session after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 0.05% to US$68.73 a barrel and the Brent crude oil price is up 0.05% to US$72.15 a barrel. This is despite OPEC announcing plans to boost its output.
Gold price charges higher
It could be a good session for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price charged higher overnight. According to CNBC, the gold futures price is up 1.2% to US$4,175.7 an ounce. Easing interest rate hike expectations boosted the precious metal.
Qantas shares on watch
Qantas Airways Ltd (ASX: QAN) shares will be worth watching on Tuesday after UK airline easyJet received a US$7.3 billion takeover offer from U.S. private equity manager Castlelake. This represents a forward multiple of approximately 16.5x estimated 2027 earnings. Qantas shares are currently trading at a deep discount of around 10x estimated FY 2027 earnings.
The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2026