Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Greek drama:
European markets are pushing higher in early trading, despite the fact that Greece and its creditors were unable to reach a deal on the country's debt crisis Thursday. Traders appear to be taking the news in their stride as they hope for a last-minute deal at a meeting of top EU leaders Monday.
Without an agreement very soon, Greece could miss a payment to the International Monetary Fund due at the end of the month, making it the first developed country to ever default on IMF debt.
2. Chinese correction:
The main Chinese stock markets in Shanghai and Shenzhen have officially entered correction territory, with each of the key indexes down by about 13% over the last few days.
Investors have grown increasingly wary of what many analysts describe as a bubble.
3. Calm in the U.S.:
U.S. stock futures are looking remarkably placid despite the turmoil overseas.
The Nasdaq closed at an all-time high -- 5,132.95 points -- Thursday after surging 1.3%. It also set an intraday record of 5,143.32, topping the previous all-time high of 5,132.52 from more than 15 years ago.
The Dow Jones industrial average and S&P 500 also jumped by 1% on Thursday.
4. Market movers:
ConAgra, Macerich: ConAgra Foods (CAG), a Nevada-based food company, saw a 7% jolt in its stock in extended trading after hedge fund JANA Partners announced it bought 7.2% of the company's shares.
In a disclosure filed with the SEC, JANA Partners said ConAgra's share are "undervalued and represent an attractive investment opportunity."
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