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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

1. Taking stock

U.S. stock futures are holding steady.

On Thursday, the S&P 500 inched up by 0.2% and closed at a fresh record high. The Dow Jones industrial average ended unchanged, while the Nasdaq moved up by 0.4%.

In Europe, stock markets are muddling along in early trading, with no clear direction. The FTSE 100 is moving up a bit, but most other indexes are declining.

Investors are watching as the top central banker in Europe -- Mario Draghi -- gives a speech in Portugal about inflation and unemployment. And Fed chair Janet Yellen is due to give a speech about inflation at 1 p.m. ET.

2. Asia overview

Nearly all Asian markets ended Friday with gains.

Chinese indexes closed out the week after a stunning rise. The Shanghai Composite and Shenzhen indexes are up a whopping 8.1% and 12%, respectively.

Calm is returning to Hong Kong after a roller coaster ride. Hanergy's (HNGSF) market capitalization dropped by $19 billion in one hour on Wednesday, and trading in its shares remain suspended.. The company has yet to provide an explanation for the collapse in its value.

In Japan, the central bank said it would maintain its monetary stimulus program at the same pace and predicted the moderate economic recovery would continue.

Analysts don't expect an increase in stimulus anytime soon.

3. Earnings

Campbell Soup (CPB), Foot Locker (FL) and Deere (DE) are reporting ahead of the open.

4. Economics

The U.S. government will provide an update about monthly consumer inflation at 8:30 a.m. ET.

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What is it? Fed Chair Yellen is due to speak about the US economic outlook at the Greater Providence Chamber of Commerce Economic Outlook, in Rhode Island.

As head of the central bank, which controls short term interest rates, she has more influence over the nation's currency value than any other person. Traders scrutinize her public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? May 22^nd at 1:00pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.

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What is it? President Draghi is due to participate in a panel discussion at the ECB Forum on Central Banking titled "Inflation and Unemployment in Europe," in Portugal.

As head of the ECB, which controls short term interest rates, he has more influence over the euro's value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? May 22^nd at 9:30am Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the EUR to rise.

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What is it? It checks the change in the total value of sales at the retail level, excluding automobiles.

Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.

When? May 22^nd at 8:30pm Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.

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Technical Analysis Lesson 1 - Introduction

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