Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1) Swiss Stun Markets
The Swiss central bank removed its exchange rate ceiling of 1.2 Swiss francs to the euro, a cap introduced in 2011 during the Eurozone crisis to limit the flow of cash into the traditional safe-haven economy.
The franc surged against the euro, US dollar and UK pound on the news, despite a simultaneous announcement that key Swiss interest rates were being cut to minus 0.75%.
"This exceptional and temporary measure protected the Swiss economy from serious harm," the central bank said in a statement. "While the Swiss franc is still high, the overvaluation has decreased as a whole since the introduction of the minimum exchange rate. The economy was able to take advantage of this phase to adjust to the new situation."
2) Earnings and Economics
The market mood could swing again based on the latest set of earnings.
On the economic front, the US government will report weekly jobless claims at 8:30am ET. Official data on producer prices in December will also come out at the same time.
3) Bankruptcies
Failing companies may also grab attention Thursday. RadioShack (RSH) is reportedly preparing to file for bankruptcy. The filing could come during the first week of February, according to the Wall Street Journal. RadioShack declined to comment.
Meanwhile, the operating unit of Caesars Entertainment (CZR), the owner of Caesars Palace casinos, has filed for Chapter 11 bankruptcy.
Shares in Caesars have dropped by nearly 20% since the start of this month.
4) India Cuts Rates
The Reserve Bank of India unexpectedly cut key lending rates on Thursday in an effort to boost growth in the Asia's third-largest economy.
The central bank was not scheduled to issue a rate decision, and the move took economists and analysts by surprise. The Mumbai Sensex index shot up by 3%
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