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What is it? Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.

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What is it? Source changed series calculation formula as of Feb 2010. It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

When? At 4:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the GBP to rise.

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1. Top European technology stocks shed nearly $6 billion of market value on Wednesday, with suppliers for Apple (NASDAQ:AAPL) the top fallers after the tech giant's revenue forecasts fell short of expectations.

While the worst hit were the handful with 20-70 percent direct exposure, the whole sector suffered as investors cautioned against frothy valuations, with the STOXX Europe 600 tech index (SX8P) trading well above its historical average.

2. U.S. home resales rose in June to their highest level in nearly 8-1/2 years, a sign of pent-up demand that should buoy the housing market recovery and likely keep the Federal Reserve on track to raise interest rates later this year.

The National Association of Realtors said on Wednesday existing home sales increased 3.2 percent to an annual rate of 5.49 million units, the highest level since February 2007.

3. The dollar pushed higher against a basket of other major currencies on Wednesday, as data showing that U.S. existing home sales hit the highest level since 2007 in June added to expectations for the Federal Reserve to raise interest rates in the coming months.

4. Coca-Cola Co (N:KO) on Wednesday reported higher-than-expected quarterly earnings and revenue as it raised prices and boosted sales volumes in North America, where it has struggled to grow as consumers ditch soda for healthier options.

Coke has called 2015 a transition year as it tries to cut costs and boost sales of its mainstay carbonated soft drinks.

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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

It's all about tech today, and the Nasdaq looks set to take a big dip after hitting all-time highs on Monday.

Apple (AAPL, Tech30) and Microsoft (MSFT, Tech30) are weighing on the index after disappointing earnings late Tuesday.

1) Tech movers

Apple, Microsoft, Yahoo: Apple is set for a big drop at the open after it sold fewer iPhones than expected in the last quarter, and offered a weak outlook for the current three-month period. The stock was down 5% in premarket trading.

Microsoft is down about 4% premarket after the firm reported a huge quarterly loss, mostly due to an $8.4 billion write-down of its Nokia acquisition last year.

Shares in Yahoo (YHOO, Tech30) are also declining by about 2% ahead of the open after reporting earnings Tuesday.

This could pull the Nasdaq down by about 1% at the open.

U.S. stock futures show the Dow Jones industrial average and S&P 500 are also in negative territory, though the moves aren't as dramatic.

2) Other market movers

Chipotle, AT&T, DirecTV: Shares in Chipotle (CMG) could tumble at the open after the restaurant chain said growth had slowed dramatically in the past year. The chain's shares slid roughly 5% in extended trading.

Meanwhile, shares in AT&T (T, Tech30) and DirecTV (DTV) could move up a bit Wednesday after the chairman of the Federal Communications Commission said he is ready to give a thumbs up to their $49 billion merger.

3) Earnings

Another barrage of earnings reports are expected today. Among the companies reporting before the open are Coca-Cola (KO) and Boeing (BA).

American Express (AXP) and Qualcomm (QCOM, Tech30) are reporting after the close.

4) Economics

The National Association of Realtors will release monthly data on existing home sales at 10 a.m. ET. The association reported existing home sales in May were up 5.1%, with much of the gain due to demand from first-time home buyers.

At 10:30 a.m., the U.S. Energy Information Administration will release new data on crude oil inventories. Oil futures are trading around $50 per barrel, down 1.4%.

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What is it? Greek Parliament will vote to decide on a second package of prerequisites for further financial assistance, including tax increases on farmers.

When? Tentative

Trading Tip: This announcement can greatly affect the EUR so make sure to follow it!

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What is it? It's among the primary tools the RBNZ uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.

When?  At 5:00pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the NZD to rise.

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