Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Jobs report:
The health of the U.S. economy takes center stage today. June employment and wage figures are due out at 8:30 a.m. ET, one day early thanks to the July 4 holiday.
But pay close attention to the wage figures. Average hourly wages are likely to hold pretty steady at 2.2%, well below the Federal Reserve's 3.5% target. The jobs report is key for the Fed in deciding whether or not to hike interest rates for the first time since the recession began.
2. Greece groans:
Just days before a referendum that is likely to decide the country's future in the eurozone, there are still plenty of surprises coming out of Greece.
European lenders were unmoved Wednesday by the Greek government's surprise bailout U-turn, saying they won't consider any proposals before Sunday's vote.
The International Monetary Fund confirmed that the bankrupt country remains locked out of more support until it pays $1.7 billion owed.
3. China stocks:
Another day, another wild ride for Chinese stocks. The Shanghai Composite closed down 3.5%, while the smaller Shenzhen Index lost 5.6%. Investors in China are getting used to plenty of volatility, despite efforts by Beijing to stabilize the market.
4. Earnings updates:
Food maker McCormick (MKC) and Bassett Furniture (BSET) will release their latest quarterly earnings before the open. Family Dollar (FDO) will report after the close.
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