On Wednesday, the S&P/ASX 200 Index (ASX: XJO) recorded a small gain. The benchmark index rose 0.1% to 8,187.4 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to rise again

The local market looks set to push higher on Thursday following a positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 25 points or 0.3% higher this morning. In late trade in the United States, the Dow Jones is up 1%, the S&P 500 is up 0.6%, and the Nasdaq is 0.5% higher.

Rio Tinto to acquire Arcadium Lithium

Rio Tinto Ltd (ASX: RIO) shares will be on watch today after the mining giant announced a US$6.7 billion (A$10 billion) deal to acquire Arcadium Lithium (ASX: LTM). The two parties have agreed an all-cash transaction for US$5.85 per share (A$8.71 per share). This represents a sizeable premium of 90% to Arcadium Lithium's closing price on 4 October. Rio Tinto CEO, Jakob Stausholm, said: "Acquiring Arcadium Lithium is a significant step forward in Rio Tinto's long-term strategy, creating a world-class lithium business alongside our leading aluminium and copper operations to supply materials needed for the energy transition."

Oil prices soften

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a subdued session after oil prices softened overnight. According to Bloomberg, the WTI crude oil price is down 0.1% to US$73.51 a barrel and the Brent crude oil price is down 0.45% to US$76.83 a barrel. Traders have been selling oil after Iranian supplies were not disrupted.

Gold price falls

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a relatively poor session after the gold price eased further overnight. According to CNBC, the gold futures price is down 0.3% to US$2,627.1 an ounce. Traders were selling gold after reducing their interest rate cut expectations.

Buy Treasury Wine shares

Treasury Wine Estates Ltd (ASX: TWE) shares are in the buy zone according to analysts at Goldman Sachs. This morning, the broker has retained its buy rating and $15.20 price target on the wine giant's shares. Goldman has been looking at the China market, noting that: "Early read from industry participants suggests demand and pricing to stabilize with the latest positive China stimulus and improving consumer sentiment, and they expect moderate price growth in CY25 as excess stock is digested."