Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. ADP out soon
1. ADP out soon
Payroll firm ADP is publishing its influential employment data for July at 13:15GMT. Some economists believe it provides clues to the official U.S. jobs report, which comes out Friday. It's expected that the data will show 175,000 new jobs were added in the American private sector last month.
The last ADP report showed that private sector employment increased by 172,000 jobs in June.
The U.S. government's Energy Information Administration releases data on weekly crude oil inventories at 15:30GMT. This report consistently affects the price of oil, which is currently trading just below $40 per barrel.
2. U.K. heading for recession?
2. U.K. heading for recession?
The seasonally adjusted Markit/CIPS services purchasing managers’ index (PMI) for the U.K. dropped to 47.4 last month, its lowest level since December 2012.
Markit chief economist Chris Williamson indicated that the combination of PMIs collectively pointed to a 0.4% quarterly rate decline of gross domestic product (GDP).
Williamson noted that the data would give the Bank of England justification to cut interest rates at their policy meeting on Thursday.
3. Earnings continue to flow
3. Earnings continue to flow
Office Depot, Clorox, Crocs and Time Warner are all releasing earnings before the open.
Then 21st Century Fox, Allstate, Denny's, Herbalife, Transocean, TripAdvisor and Tesla Motors are set to release earnings after the close.
The Tesla results come after the electric car manufacturer announced it would buy solar energy firm, SolarCity (SCTY). Tesla's stock has taken a tumble lately after being a hot investment for years. It's down 13% in the past 12 months.
4. International market overview and recap
4. International market overview and recap
European markets are mixed in early trading, while most Asian markets ended the day in the red.
In India, lawmakers look set to approve a long awaited Goods and Services Tax, which could streamline the tax system and make life much easier for businesses.
The Dow Jones industrial average was down 0.5% on Tuesday, its seventh consecutive daily loss. The S&P 500 declined by 0.6% and the Nasdaq fell 0.9%.
