Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1) It's All About the Fed
Federal Reserve chair Janet Yellen will give her semi-annual monetary policy report to Congress this week. She will first testify before the Senate on Tuesday at 10am ET. Then she'll appear before the House on Wednesday at the same time.
Markets will be watching Yellen's comments closely.
The stakes are incredibly high as the Fed debates when to raise interest rates off their historic lows near zero. If the Fed times the increase correctly, the U.S. economy will continue to lift off. If the Fed gets the timing wrong, America could end up in another recession.
2) Slippery Oil Politics
There's been talk that OPEC could hold an emergency meeting to discuss the recent sharp drop in oil prices.
Nigeria's oil minister, who also acts as president of OPEC, told the Financial Times Monday that the crash in crude oil prices could cause the cartel to reconvene.
In theory, this meeting could open the door for a cut in production to push prices higher. But Saudi Arabia -- OPEC's most powerful member -- has been vocal about its opposition to cutting output.
And markets seem to be playing down the chances of a change in OPEC policy. Crude futures are slipping by about 1% Tuesday to trade at $49 per barrel.
3) Greece Still in Focus
The Greek government has submitted a list of planned economic reforms to its international creditors, which is the latest move required to ensure that Greece continues to get financing to pay its bills and debts.
Now the list will have to be approved by various creditors, including its Eurozone partners, the International Monetary Fund and the European Central Bank. Officials will review the proposals later Tuesday.
The Greek government is looking for ways to revive its economy and satisfy voter demands, while also dealing with an enormous debt burden.
4) Market Moves
There's not a lot of movement in the stock market right now.
U.S. stock futures are flat, European markets are slipping in early trading and most Asian markets closed the day with gains.
In London, shares in BHP Billiton (BBL) are surging by 3.5% after the oil and mining group posted a shallower fall in profits than expected.
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