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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:

Global markets are looking chilled Thursday. But watch out for a bunch of quarterly earnings that could shift investor sentiment. 

1) Endless earnings

Quarterly reports will keep coming in from companies such as Cigna (CI), T-Mobile (TMUS), Time Warner Cable (TWC) and Virgin America (VA). These firms are reporting before the opening bell. Fiat Chrysler Automobiles (FCAM) is among the companies reporting after the close. 

2) Stock market movers

Facebook, Whole Foods: Shares in Facebook (FB, Tech30) are falling by about 2.5% premarket after the company reported earnings on Wednesday.

There were high expectations ahead of the quarterly report and Facebook managed to beat earnings and growth expectations.

But investors seem to be feeling a little letdown after bidding up shares by 24% since the start of the year.

Whole Foods (WFM) stock slumped by about 11% in extended trading after its quarterly earnings report missed expectations. 

3) Market overview

U.S. stock futures are looking a little weaker ahead of the open.

This follows a positive Wednesday when the Dow Jones industrial average and the S&P 500 each edged up by 0.7% and the Nasdaq added 0.4%.

European markets are mostly positive in early trading, while Asian markets ended with mixed results. 

4) Economics

The U.S. Department of Labor will post new weekly jobless claims data at 8:30 a.m.

ET. New unemployment claims have climbed in recent weeks, but the week ending July 18 saw just 255,000 new claims. That's the lowest initial unemployment claims report since 1973. Also at 8:30 a.m., the Bureau of Economic Analysis will release GDP data for the second quarter.

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What is it? It's a leading indicator of consumer inflation - when producers charge more for goods and services the higher costs are usually passed on to the consumer.

When?  At 9:30pm Eastern Time.

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

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What is it? This is the nation's earliest economic data. The market impact fluctuates from week to week - there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes. Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.

When? At 8:30am Eastern Time.

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

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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. Survey of about 1,500 businesses which asks respondents to rate the relative 12-month economic outlook.

When?  At 9:00pm Eastern Time.

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

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The Dow Jones industrial average and the S&P 500 were slightly higher on Wednesday while the Nasdaq composite edged lower, as investors assessed earning ahead of a statement from the U.S. Federal Reserve that could give clues regarding the timing of a rate hike.

Pending home sales in the U.S. fell unexpectedly in June, dampening optimism over the health of the housing sector, industry data showed on Wednesday. In a report, the National Association of Realtors said its pending home sales index fell by a seasonally adjusted 1.8% last month, disappointing expectations for a gain of 1.0%. Pending home sales in May rose by 0.6%, whose figure was revised down from a previously reported gain of 0.9%.

The dollar remained moderately higher against the other major currencies on Wednesday, even after data showed that U.S. pending home sales unexpectedly fell in June, as investors awaited the Federal Reserve’s rate statement later in the day. EUR/USD was down 0.22% at 1.1034, holding below Monday’s two-week highs of 1.1128.

The euro remained modestly lower against the dollar on Wednesday after data showed that U.S. pending home sales unexpectedly fell in June, snapping five months of gains, as investors awaited the upcoming Federal Reserve rate statement.

Credit and debit card issuer MasterCard Inc (N:MA) reported lower-than-expected quarterly revenue as the company offered more rebates and incentives to win new and renewed deals.

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