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

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1. Don't sell in May

Anyone following the market mantra "Sell in May and go away" would have missed out on some decent gains this month.

The Dow Jones industrial average and S&P 500 are both up by about 1.6%, and the Nasdaq has surged by 3.2%.

But it doesn't look like the indexes will hold onto all those gains on the final trading day of the month.

U.S. stock futures are edging down ahead of the open.

2. International markets overview

European markets are all declining in early trading, with renewed nervousness about the fate of Greece setting the tone. A German newspaper quoted the head of the International Monetary Fund as saying that it was possible Greece would have to leave the eurozone.

In Germany, the benchmark Dax index is declining by about 1%.

Asian markets ended with mixed results. The mood in China has calmed down after a large pullback Thursday, following stellar gains so far this year.

Hyde Chen, an equity analyst at UBS Wealth Management, said profit taking, as well as investors holding back ahead of a rush of IPOs next week, had contributed to the volatility.

3. GDP galore

The U.S. Bureau of Economic Analysis will release a new estimate for first quarter GDP at 8:30 a.m. ET. The original estimate showed the U.S. economy grew by just 0.2% in the first three months of the year, which was well below expectations. Many now predict the economy may have actually shrunk in the first quarter.

Friday also saw disappointing GDP readings from Switzerland and Sweden. The Swiss economy contracted by 0.2% in the first quarter after a sharp appreciation in the currency slammed exports.

Many economists are also expecting a negative reading for Brazil's GDP, which is set for release Friday.

4. Earnings and economics

Big Lots (BIG) is reporting ahead of the open.

The University of Michigan will update its monthly consumer sentiment index at 10 a.m. ET.

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What is it? It checks the level of a diffusion index based on surveyed purchasing managers in the Chicago area.

It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

When? May 29^th at 9:45am Eastern Time.

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

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Prelim GDP (USD) – 29/05

What is it? It checks the annualized change in the value of all goods and services produced by the economy.

It's the broadest measure of economic activity and the primary gauge of the economy's health.

When? May 29^th 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? It checks the change in the inflation-adjusted value of all goods and services produced by the economy.

It's the broadest measure of economic activity and the primary gauge of the economy's health.

When? May 29^th 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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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

1. Red across the board

U.S. stock futures are pointing lower, European markets are mostly in the red, and Chinese stocks have suffered a major drop.

Both the Shanghai Composite and Shenzhen indexes fell by over 5% Thursday, though this comes on the heels of a stunning rise. The Shenzhen has surged by as much as 100% since the start of 2015, easily making it the world's top performing stock market.

The generally negative mood in the market follows a positive Wednesday where the Dow Jones industrial average gained 121 points, the S&P 500 rose 0.9% and the Nasdaq closed with a 1.5% gain.

Benchmark U.S. indexes are trading near all-time record highs.

2. Earnings

Retailers Abercrombie & Fitch (ANF) and Express (EXPR) are reporting ahead of the open.

Gamestop (GME) will report after the close.

3. Economics

The U.S. government is posting weekly jobless claims at 8:30 a.m. ET.

Government data on pending home sales from April will be released at 10 a.m.

Later in the morning, Wall Street will get the latest information on natural gas and crude oil inventories.

4. Google Conference

Google (GOOG) is kicking off its annual two-day developer conference, where it will showcase its latest techy innovations. It's expected to unveil a spruced up Android operating system.

Watch Google shares as investors react to the latest announcements.

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What is it? It checks the level of a diffusion index based on surveyed manufacturers, builders, retailers, agricultural firms, and service providers.

It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.

When? May 28^th at 9:00pm Eastern Time.

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 checks the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.

It's a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.

When? May 28^th 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? It checks the number of individuals who filed for unemployment insurance for the first time during the past week.

Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.

When? May 28^th at 8:30am Eastern Time.

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

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