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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:

1. Sour stocks:

There's a negative mood across global markets, though U.S. stock futures are staying relatively steady.

Stocks in China took a major tumble Friday, with both the Shanghai Composite and Shenzhen index dropping by 7.4% and 7.9%, respectively.

The dramatic moves could further unnerve investors, who are already reeling from last week's dismal performance by Chinese stocks. But even with the recent correction, the Shanghai index is still up 30% this year while Shenzhen's gains amount to 77%, easily making it the world's top-performing index.

European stock markets are sinking as investors worry about Greece's potential default next week. Top European officials are meeting over the weekend to try to hammer out a last-minute debt deal.

"There will be a crisis meeting over the weekend, because a European crisis is not a proper European crisis without a crisis meeting over the weekend," explained Paul Donovan, a senior economist at UBS.

2. Stock market movers:

Micron Technology, Nike, Humana: Shares in Micron Technology (MU) are plunging by 12% premarket after the chip manufacturer reported quarterly results that fell short of market expectations.

But it wasn't all bad news. Nike (NKE) shares are up about 3.5% premarket after it reported quarterly results that outperformed analysts' predictions.

Shares in health insurer Humana (HUM) could be on the move again Friday after Bloomberg reported Aetna (AET) is closing in on a deal to acquire the company. Humana shares surged by 7.1% Thursday.

3. Earnings:

Shoe retailer Finish Line (FINL) will release its latest earnings ahead of the open. Its stock price is down 10.5% from last year.

4. Economics:


 

The University of Michigan releases its monthly Consumer Sentiment Index at 10 a.m. ET.

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What is it? BOE Governor Jul 2013 - Jun 2018. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues.

As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? At 10:15am Eastern time.

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

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Wall Street opened higher on Thursday as data showed that the U.S. economy was on the path to recovery after consumer spending recorded its largest increase in nearly six years. 

Investors have been keeping a sharp eye on economic data for signs of a recovery in the U.S. economy, which came to a crawl in the first quarter, as the Federal Reserve prepares to raise interest rates for the first time in almost a decade.

The euro was fractionally lower against the dollar on Thursday as investors remained on the sidelines to monitor developments in Greece’s bailout talks.

Natural gas futures trimmed gains on Thursday, despite data showing that U.S. natural gas supplies rose less than expected last week.

Natural gas for delivery in August rose 2.4 cents, or 0.88%, on the New York Mercantile Exchange to trade at $2.806 per million British thermal units during U.S. morning hours. Prices were at around $2.846 prior to the release of the supply data.

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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:

1. Mixed feelings:

U.S. stock futures are pointing up, but the mood in European markets is mixed in early trading, and Asian stocks mostly closed with losses.

Key stock markets in China fell by about 3.5%, though the swings were less violent than in recent days. Chinese markets are now experiencing a correction after a stunning rise this year.

Wednesday was a negative day in the U.S. The Dow Jones industrial average sank by 1%, while the S&P 500 and the Nasdaq both dipped by 0.7%.

2. Greece crisis grinds on:

Negotiations over Greece's dire financial situation are dragging on, putting a damper on market enthusiasm in Europe.

Markets have been waiting for months for Greece and its creditors to reach a deal about the country's debts and economic reforms, but time is running very short -- it must pay the IMF about 1.5 billion euros next week.

"The apparent lack of progress at yesterday's meeting of eurozone finance ministers has left the prospect of a deal between Greece and its creditors once more hanging by a fine thread," said Jonathan Loynes, chief European economist at Capital Economics. "Following the optimism earlier in the week that an agreement was very close, it has become clear that there are still major differences between the two sides."

If Greece doesn't get more cash from Europe, it faces an IMF default and a potential exit from the eurozone.

3. Earnings:



Barnes & Noble (BKS) is reporting before the market opens. Last quarter, the company reported a slump in revenue as sales related to its Nook e-reader dropped by about 50% compared to the same period in the previous year. The Nook has failed to keep up with Amazon's (AMZN, Tech30) Kindle.

After the close, sports retail giant Nike (NKE) will report earnings. The company's stock price recently hit a fresh all-time high after rising by 10.5% since the start of the years. Investors have been especially enthusiastic after the company landed a deal with the NBA to be its exclusive uniform provider.

4. Stock market mover:

 Bed Bath & Beyond: Shares in Bed Bath & Beyond (BBBY) are dipping about 2.2% in extended trading after the company reported quarterly results that came in slightly below market expectations.

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