Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Global stock market overview
1. Global stock market overview
U.S. stock futures are pointing up, indicating there's still momentum in the markets after two consecutive days of strong gains.
European markets are mixed in early trading. Energy and commodity companies are among the top performers in London right now, though the gains are relatively modest.
Asian markets ended the day with mixed results.
2. World oil at $50
2. World oil at $50
Crude oil futures are rising Thursday to trade just a few cents below $50 per barrel. And Brent crude prices -- another important global benchmark -- have now surpassed the $50 mark, a level not seen since November.
Prices have rebounded from historically low levels around $26 a barrel in February due to "a drop in U.S. oil stockpiles on top of falling U.S. output and global supply problems," explained Mike van Dulken, head of research at Accendo Markets.
Analysts believe that the oil market is returning to balance after many months of oversupply. Recent supply disruptions in countries like Canada, Nigeria and Venezuela have cut millions of barrels of oil from the market over the past few weeks.
3. G7 summit kicks off in Japan
3. G7 summit kicks off in Japan
The two-day 2016 Group of Seven Summit kicked off in Ise-Shima, Japan on Thursday. Concerns about the health of the global economy are likely to be a key topic among the participants, although full agreement on macroeconomic policy looks elusive.
The G7 leaders are also expected to reaffirm their previous commitment to stability in the foreign exchange market.
4. Earnings and economics
4. Earnings and economics
Sears Holdings (SHLD), Dollar General (DG), Dollar Tree (DLTR) and Abercrombie & Fitch (ANF) are all reporting quarterly results ahead of the open. Gamestop (GME) will report after the close.
The Department of Labor will release its latest weekly initial unemployment claims at 8:30 a.m. ET.
The National Association of Realtors will reveal its monthly pending home sales data for April at 10 a.m. The release comes as new home sales data from April showed the market hit its highest level since 2008.
Shares in Yahoo are recovering premarket after tumbling by 5.2% on Wednesday. Investors sold off Yahoo shares after Alibaba disclosed that it is being investigated by the U.S. Securities and Exchange Commission over its accounting practices. Yahoo owns a large stake in the Chinese giant.
