Global stocks continue to gain strength, investors await ECB’s policy meeting.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Stocks party continues
The MSCI World index inched up in its 10th straight session of gains and set a record high for the sixth consecutive day, lifted by all-time closing highs on Wall Street in the wake of strong earnings reports.
Asian shares rose to their highest levels in nearly a decade, as investors digested the Bank of Japan's dovish policy announcement.
European shares extended their gains, lifted by buoyant global markets, hours ahead of a highly anticipated policy meeting at the European Central Bank.
On Wall Street, U.S. futures pointed to a flat open ahead of the release of key earnings reports.
2. All eyes on the ECB
Market players awaited the outcome of the European Central Bank's meeting for fresh clues on when it will start to shift away from its ultra-easy policy.
The ECB's interest rate decision is due at 11:45 GMT with no big changes expected.
Most of the focus will be on President Mario Draghi's press conference 45 minutes after the announcement, as investors look for more clues on when and how the ECB could scale back its massive quantitative easing program.
Market experts believe the central bank is likely to wait until September before announcing a tapering of its 60 billion euros of monthly asset purchases.
3. BOJ decision, U.S. data coming
Ahead of the ECB, the Bank of Japan kept monetary policy steady as a two-day meeting concluded.
The central bank also pushed back the timing for achieving its 2% inflation target, reinforcing expectations it will lag well behind major global central banks in dialing back its massive stimulus program.
USD/JPY rose after the announcement.
Besides central banks, investors will focus on U.S. data to examine the strength of the world's largest economy and how it will impact the Federal Reserve's view on monetary policy.
Weekly jobless claims and the Philadelphia Fed manufacturing survey are both due at 12:30 GMT.
4. Microsoft and eBay reports
Market participants will continue to keep an eye on the U.S. quarterly reporting season with the focus on earnings from Microsoft, eBay and Visa all out after the closing bell. Capital One is also due after the close.
Earnings expected before the opening bell include Blackstone, Bank of New York Mellon, Abbott Laboratories, Travelers, Sherwin-Williams and Union Pacific.
Qualcomm and American Express earnings will also be in focus, after both posted misses late Wednesday, sending their shares lower in pre-market trade.
