On Monday, the S & P / ASX 200 Index (ASX: XJO) started the week in a positive way. The benchmark index rose 0.3% to 7,417.3 points.

Will the market be able to build on this on Tuesday? Here are five things to see:

The ASX 200 is expected to rise again

The Australian stock market looks set to continue its rise on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% higher this morning. The US market was closed on Monday due to Martin Luther King Jr. Day. In Europe, the Dax rose 0.3% and the FTSE stormed 0.9% higher.

Rio Tinto quarterly update

That Rio Tinto Limited (ASX: RIO) stock price will be on guard today as it releases its fourth quarter update. According to a note from Goldman Sachs, it expects iron ore shipments of 88.9 Mt and 133 kt of extracted copper for the quarter. The broker also expects the mining giant to provide FY 2022 guidance. It predicts Pilbara shipments of 330 million. tonnes (+10 million year-on-year) and extracted copper production of 550 million. tonnes (+70 million year-on-year).

Oil prices are rising

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a good day after rising oil prices again. According to Bloomberg, the WTI crude oil price has risen 0.6% to $ 84.30 per barrel. barrel, and the Brent crude oil price has risen 0.5% to $ 86.52 per barrel. barrel. Oil prices rose due to tightening supply and easing Omicron’s concerns.

The price of gold is higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on guard after the gold price has risen. According to CNBC, the spot gold price has risen 0.1% to $ 1,188.90 per share. ounce. Traders appear to be unsure of where the gold is heading due to the Hawkish Fed.

South32 shares rated as a purchase

That South32 Ltd (ASX: S32) The stock price remains a convincing buy with a price target of $ 4.60 according to the team at Goldman Sachs. This follows the release of its pre-feasibility study of the Hermosa project. While the investment estimate was higher than expected, Goldman believes the free cash flow and valuation history remain intact.