Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Scary geopolitics
1. Scary geopolitics
As the diplomatic standoff between Saudi Arabia and Iran continues, there's more worrying news from Asia. North Korea said it carried out a hydrogen bomb test, which if confirmed would be a first for the reclusive regime and a significant advancement for its military ambitions.
The sense of risk is weighing on global stocks, but it's also giving a lift to gold, a traditional safe haven asset.
2. Weak data from China continue to flow
2. Weak data from China continue to flow
The country's services sector grew at its weakest pace for 17 months in December. China stocks dropped after the open, but steadied to close more than 2% higher on reports that the government was taking more steps to support the markets.
3. Stock market movers
3. Stock market movers
Apple, Pioneer Natural Resources: Shares in Apple (AAPL, Tech30) are dropping by more than 2% premarket after falling 2.5% Tuesday on reports that it is cutting iPhone production due to weak orders.
Oil and gas producer Pioneer Natural Resources (PXD) saw its stock fall nearly 5% after announcing it would issue 10.5 million new shares to fund expansion. Later Tuesday evening, the company upped the number of shares to 12 million.
4. Economics and earnings
4. Economics and earnings
At 2 pm, the Federal Reserve will post the minutes from its Dec. 16 meeting, where officials decided to raise U.S. interest rates for the first time in nearly a decade. The minutes may provide new clues about what the Fed has in store for rates in 2016.
At 8:30 am ET, investors will be watching for U.S. export and import data from November. At 10:30 am, the U.S. is due for a weekly crude inventories report.
Agricultural products giant Monsanto (MON) is due for an earnings update before the opening bell rings on Wall Street.
