1. The Nasdaq composite index opened at a record high on Friday after strong quarterly results from Google (O:GOOGL), while Boeing (N:BA) kept the Dow in the red.

2. The dollar moved higher against a basket of other major currencies on Friday, after the release of upbeat U.S. inflation and housing data added to expectations for a rate hike in the near future.

3. Crude oil futures were little changed on Friday, hovering close to four-month lows as the stronger dollar coupled with concerns over a global supply glut continued to weigh on the commodity.

4. Boeing Co (N:BA) on Friday said it will take a $536 million after-tax charge in its second-quarter results to deal with deficiencies in the fuel system on the KC-46 aerial refueling tanker it is developing for the U.S. Air Force.

5. Gold prices held steady at eight-month lows in European morning hours on Friday, as the stronger dollar and increased risk-appetite following positive news from Greece weighed heavily on the precious metal.

 

 

 

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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:

  

 

 

It's been a thoroughly exciting week in the markets, and it's not over yet.

 


1) Nasdaq set for another record?

It looks like the Nasdaq could hit new all-time highs Friday. The tech-heavy index finished Thursday with a 1% gain.

The Nasdaq will have to surpass the level 5,164.36 to reach a new record.

U.S. stock futures are mixed ahead of the open, with the Nasdaq indicating it will keep rising while the Dow Jones industrial average and S&P 500 could post small declines.

 


2) Earnings

General Electric (GE) and Honeywell (HON) are reporting ahead of the open.

Telecoms firm Ericsson (ERIC) reported second quarter results earlier in the morning and shares are rising by about 6% in Europe.

Shares in Google (GOOGL, Tech30) are set to surge by about 11% this morning after the tech giant reported better-than-expected results on Thursday evening.

 


3) Germany votes on Greek bailout

Germany's parliament -- the Bundestag -- is voting Friday on whether to support formal negotiations on a new Greek bailout, which was agreed in principle by eurozone leaders earlier this week.

"[German Chancellor Angela] Merkel has enough votes to ensure passage, but there may be interest in the level of dissent expressed vocally or in votes," said Paul Donovan, a senior economist at UBS.

Many Germans hate the idea of lending Greece more money after years of overspending and political mismanagement.

 


4) International markets overview

European markets are slipping a bit lower in early trading, while most Asian markets ended with strong gains.

 

 

 

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What is it? Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity. Survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions.

When? At 10:00am 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? Food and energy prices account for about a quarter of CPI, but they tend to be very volatile and distort the underlying trend. The FOMC usually pays the most attention to the Core data - so do traders. 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.

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? 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 previous sampling.

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? While this is monthly data, it's reported in an annualized format (monthly figure x12). 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? Volatile items account for about a quarter of CPI but they tend to be very volatile and distort the underlying trend. The Bank of Canada pays most attention to the Core data - so do traders. This is among the few non-seasonally adjusted numbers reported on the calendar, as it's the calculation most commonly reported. 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.

When? At 8:30am Eastern Time.

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

 

 

 

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1. Manufacturing activity in the Philadelphia-region expanded at the slowest pace in four months in July, dampening optimism over the U.S. economic outlook, official data showed on Thursday.

In a report, the Federal Reserve Bank of Philadelphia said that its manufacturing index deteriorated to a reading of 5.7 this month from June's reading of 15.2. Analysts had expected the index to fall to 12.0 in July.

2. U.S. stocks opened higher on Thursday as investors cheered Greek parliamentary approval of a bailout plan and on strong quarterly reports from U.S. bluechip companies.

The Dow Jones industrial average (DJI) rose 68.55 points, or 0.38 percent, to 18,118.72. The S&P 500 (SPX) gained 10.79 points, or 0.51 percent, to 2,118.19 and the Nasdaq composite (IXIC) added 37.31 points, or 0.73 percent, to 5,136.25.

3. Crude oil futures rebounded from the previous day\'s steep decline on Thursday, but gains were limited amid ongoing concerns over a global supply glut.

On the ICE Futures Exchange in London, Brent oil for September delivery tacked on 60 cents, or 1.04%, to trade at $57.72 a barrel during U.S. morning hours.

4. The European Central Bank on Thursday increased its emergency lending to Greek banks by €900 million and added that it is operating under the assumption that Greece will remain in the euro zone.

Speaking at a press conference after the bank’s decision to keep euro area interest rates on hold at record lows, ECB President Mario Draghi said several positive things have happened to allow the increase in emergency liquidly assistance.

 

 

 

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