AWARDS

During the early trading session, Asian stocks traded mixed as investors remain cautious over the possibility of major central banks implementing further easing measures because of recent negative data. The Nikkei share average was up 0.71%, Hang Seng down 0.58% and the Shanghai Composite dropped 2.13%. The Yen was slightly up against the Dollar in thin trade following a number of positive reports from Japan, the Adjusted Current account and the Current Account n.s.a. both showed better than expected figures. Currency markets traded with little movement in Asian trade as market spectators awaited the release of economic reports from the Eurozone and the United States.

During the European session, the British Pound continued to trade close to 5 month highs, but declined slightly following the BoE inflation report and mixed economic reports. The Bank of England cut the growth forecast for the coming year from 2.9% to 2.4% and the Average Earnings Index showed an increase of 1.9%, whereas the Claimant Count Change showed a worse than expected figure with a 12.6K decline.

At the open of the U.S. trading session, the Dollar slumped against a basket of major currencies following disappointing reports. The Core Retail Sales for April grew 0.1%, below the expected figure of 0.5% and the Monthly Retail Sales remained unchanged, with analysts expecting a 0.2% increase. The weaker Dollar pushed up the price of gold and the commodity reached its highest level since early April.

The price of oil dropped sharply as Saudi Arabia’s OPEC continued to rig oil as they battle for higher market shares. The price has now rebounded slightly following the release of the US Crude oil inventories showed that the number of barrels held by US firms dropped 2.191M, weighing up the ratio of supply and demand. The commodity is currently trading above $61/barrel.

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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. Earnings

Ralph Lauren (RL) and Macy's (M) are reporting ahead of the open. Cisco (CSCO, Tech30), J.C. Penney (JCP) and Shake Shack (SHAK) will report after the close.

2. Eurozone economy perks up

New data shows the eurozone economy grew by 1% in the first quarter compared to the same period in 2014.

Within the 19 nations, there were some standouts and laggards: Growth in Spain was robust, and Italy emerged from recession. Greece returned to recession.

3. More economic data

Bank of England Governor Mark Carney is speaking in London about the state of the U.K. economy and inflation. Markets are watching for clues about when the bank may begin to raise interest rates. U.K. data showed unemployment dipped to 5.5% in the first quarter.

In the U.S., the government will report monthly retail sales numbers at 8:30 a.m. ET.

4. International markets overview

European markets are rising in early trading, while Asian markets mostly closed the day with gains.

Oil prices are rising by about 1% to trade near $61.50 per barrel.

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