Key ASX 200 Drivers to Watch on Tuesday

The S&P/ASX 200 opened the week modestly higher, gaining 0.15% to 8,809.9 points on Monday, but futures suggest a slight dip of about 0.1% at the start of Tuesday’s session. Wall Street posted gains, with the Dow up 0.3%, the S&P 500 up 0.7% and the Nasdaq up 0.85%.

Biotechnology firm CSL Ltd will hold its annual general meeting in Melbourne on Tuesday, drawing investor attention. The company may issue a trading update ahead of the meeting, and recent share price recovery has raised expectations for stronger performance.

Energy stocks such as Beach Energy and Santos are under scrutiny after oil prices fell, with WTI crude down 1.8% to US$101.40 a barrel and Brent crude down 1.2% to US$115.32, following easing Middle-East tensions.

National Australia Bank shares have been assigned a trim rating by Morgans ahead of its FY 2026 results. The broker reduced earnings forecasts and set a price target of $35.67 per share. >"We make c.2% downgrades to cash EPS forecasts ahead of the FY26 result, largely related to balance sheet growth (moderated). Minor increase to DCF-based target price, now $35.67/sh. TRIM retained, given potential TSR at current prices of c.-9%."

Gold prices have risen, adding another variable to market sentiment.