Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

Investors are on edge after China stocks suffered a savage fall on Tuesday.

U.S. stock futures were slipping and global markets retreated. 

1) China tumbles

The bears are once again stalking Chinese markets. The Shanghai Composite closed down 6.2% and the smaller, tech-heavy Shenzhen index slumped 6.6%.

China has been rocked by months of volatile trading, and investors are now worried about a possible withdrawal of stock market support by Beijing, and signs of a sharper slowdown in the economy. 

2) Commodities falter

Fears about slowing growth in China has been hitting commodity demand in recent weeks and prices remained under pressure Tuesday. Copper dropped 1.1%, and oil prices eased 0.7% to trade below $42 a barrel. 

3) Earnings and economics

There are plenty of earnings to digest including quarterly results from some big box retailers. Walmart (WMT), Home Depot (HD), TJ Maxx (TJX) and Dick's Sporting Goods (DKS) are due to report before the open. DeVry Education (DV) will report after the close.

SanDisk (SNDK)shares are ones to watch Tuesday. The tech firm was trading down nearly 2% premarket.

On the economic front, the U.S. Census Bureau will publish July numbers for housing starts and building permits at 8:30 a.m. ET. 

4) International markets

European markets headed lower in early trading, with France's CAC index down 0.4% and the U.K. FTSE index off by 0.5%.

Shares in Wood Group (WDGJF) slumped 2.4% in London after the energy services firm's half year results confirmed weak oil prices had slugged earnings and prompted heavy job cuts.

Asian markets ended in the red, led by sharp falls in China. Hong Kong's Hang Seng gave up 1.5%.

Thailand's market lost nearly 3% and the baht tumbled following a deadly bomb blast in the capital on Monday.

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What is it? It's a leading indicator of the nation's trade balance with other countries because rising commodity prices boost export income.

When? Tentative

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

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What is it? It's an excellent gauge of future construction activity because obtaining a permit is among the first steps in constructing a new building.

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? This is considered the UK's most important inflation data because it's used as the central bank's inflation target. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. The average price of various goods and services are sampled and then compared to the sampling done a year earlier.

When? At 4:30am Eastern Time.

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

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1) Wall Street began the week lower on Monday after data showed a surprise fall in manufacturing activity in the state of New York in August.

The market was also weighed down by oil prices, which fell toward six-year lows as data showed Japan's economy, the world's third-biggest oil consumer, contracted in the second quarter.

2) NEW YORK - U.S. homebuilder sentiment rose in August to its highest level since a matching reading almost a decade ago, the National Association of Home Builders said on Monday. (Reuters)

3) The New York Federal Reserve’s index of manufacturing conditions tumbled to its lowest level since 2009 in August as new orders fell sharply, according to a report released on Monday.

The Federal Reserve Bank of New York said that its general business conditions index dropped to -14.9 this month from 3.86 in July.

4) The dollar remained steady against a basket of major currencies on Monday after data showed that manufacturing activity in the New York region slumped to its lowest level since November 2009 this month.

5) U.S. oil futures fell to the lowest level in six-and-a-half years on Monday after data showing that Japan’s economy contracted in the second quarter added to fears over the demand outlook. (Investing.com)

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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: 

Investors have caught a mild case of the Monday blues.

U.S. stock futures were inching lower and oil prices remained under pressure. 

1) Oil slides

Crude dropped 1.5% to hover just above $41 a barrel in electronic trading. Oil has tumbled in recent weeks as the combination of plenty of supplies and sluggish demand weighs on prices. 

2) Ruble tumbles

Weak oil prices are causing problems for Russia's energy-dependent economy. And there was more bad news Monday, as the ruble hit a 6-month low against the greenback. 

3) Earnings updates

There are a few company results to watch out for today, starting with earnings from Estee Lauder (EL) before the market open. Urban Outfitters (URBN) will report this afternoon. 

4) International markets

It was a mixed session across global markets. In Europe, Germany's DAX rose 0.4% while the U.K.'s FTSE index inched down 0.1%.

Over to Asia, China's Shanghai Composite closed up 0.7% and the yuan was steady against the U.S. dollar. The stabilization in the Chinese currency helped restore some calm to trading after a surprise devaluation sparked a sell-off on global markets last week.

Japan's economic recovery hit another stumbling block as data showed GDP contracted in the second quarter. The country's benchmark Nikkei index added 0.4%. Hong Kong's Hang Seng closed down 0.7%.

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