Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Potential market movers -- Yahoo, Etsy
Shares in Yahoo (YHOO, Tech30) are posting a modest 3% rebound premarket after they tanked by about 8% late Tuesday. Investors hit the sell button on concerns that the company would be hit by new tax rules when it spins off its stake in Alibaba (BABA, Tech30). But the tech giant has reportedly issued a statement saying it will not be affected by any IRS tax rule changes.
Shares in Etsy (ETSY) are down by roughly 17% premarket after the company reported a big quarterly loss. It was the company's first earnings report since its IPO.
2. Down day in the markets?
U.S. stock futures are looking soft ahead of the open, but this comes a day after the Dow Jones industrial average eked out a minor gain to close at a new record high. The S&P 500 is also trading near record levels.
European markets are all edging down in early trading. Asian markets ended with mixed results. Japan reported annualized growth of 2.4% in the first quarter. That was stronger than expected but analysts warned the pace of expansion would slow later this year.
3. Earnings
Target (TGT), Staples (SPLS) and American Eagle Outfitters (AEO) are reporting ahead of the open.
Salesforce.com (CRM, Tech30), Williams-Sonoma (WSM) and the owner of Victoria's Secret, L Brands (LB), will report after the close.
4. Economics
The Federal Reserve will publish the minutes from its latest policy meeting at 2 p.m. ET.
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