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

1. Oil in the spotlight

Traders are focusing on the oil market Tuesday in anticipation of major developments involving Iran and Nigeria.

Crude futures are moving down by about 2% to trade around $47.50 per barrel.

Iran is negotiating with world powers about its nuclear capabilities, and talks are coming down to the wire. Tuesday at 6 p.m. ET marks the "self-imposed" deadline for all sides to agree on a general framework for a deal. Then the U.S., Iran and others will have until the end of June to hammer out the specifics. This could ultimately lead to a lifting of sanctions and allow Iran to pump more oil to world markets.

Nigeria, one of Africa's biggest oil producers, is tallying up the results of its election. Final results are expected today.

Opposition challenger Muhammadu Buhari is currently leading with 12 million votes, surpassing President Goodluck Jonathan, who has garnered 10 million votes so far, according to Reuters. However, these figures are not final as vote counting continues.

2. Stock market overview

U.S. stock futures are looking a bit soft Tuesday after markets posted a strong rally on Monday.

If the main indexes fail to climb again today, they'll all close out the month with losses.

As it stands now, both the Dow Jones industrial average and S&P 500 have declined by nearly 1% since the start of March, following a surge in February. The Nasdaq is also in the red for the month, but is only off by 0.3%.

3. International market overview

European markets are mostly edging higher in early trading.

All the main Asian markets closed the day with gains, except for the Nikkei in Japan, which pulled back by 1.1%.

4. Economics

There are a few interesting economic stats coming out Tuesday.

The S&P/Case Shiller 20-city home price index will be published at 9 a.m. This index provides a broad overview about the state of America's housing market.

The U.S. Conference Board will update its monthly consumer confidence index at 10 a.m.

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

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? March 31^st at 9:00pm Eastern Time.

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

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What is it? It checks the change in the number of new building approvals issued.

It's an excellent gauge of future construction activity because obtaining government approval is among the first steps in constructing a new building. Construction is important because it produces a wide-reaching ripple effect - for example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various services are purchased by the builder.

When? March 31^st at 8:30pm Eastern Time.

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

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What is it? It checks the level of a composite index based on surveyed households.

Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity.

When? March 31^st 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 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? March 31^st 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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What is it? It checks the change in the total value of employment income collected by workers.

Income is correlated with spending - the more disposable income consumers have, the more likely they are to increase spending.

When? March 30^th at 9:30pm Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the JPY 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. Yellen toes the line

Market watchers say the buoyancy in global markets was inspired by a speech made late Friday by the head of the Federal Reserve, Janet Yellen.

Yellen said the U.S. central bank would be slow and steady with its upcoming interest rate hikes.

"The basic take away is that the [Fed's] policy normalization process will be only a minor transformation from 'Zero Interest Rate Policy' to 'Low Interest Rate Policy'," explained Mike O'Rourke, chief market strategist at JonesTrading. "In her own words, Yellen described it as a 'gradualist approach'."

U.S. stocks closed the week with small gains, following four consecutive days of losses.

2. Focus on oil

Oil is in the spotlight this week with major producing nations hitting the headlines. Crude futures were trading about 1.5% lower Monday.

Iran is negotiating with world powers about its nuclear capabilities. If a general framework for a deal is reached by Tuesday, then the U.S., Iran and others will have until the end of June to hammer out more specifics. That could lead to a lifting of sanctions and allow Iran to pump more oil to world markets.

Saudi Arabia continues to be in focus on expectations that it will launch a ground incursion in Yemen. Last week, Saudi Arabia and a number of other nations launched air strikes over Yemen.

And one of Africa's biggest producers, Nigeria, is tallying up the results of its election at the weekend.

3. Greek drama continues

Greece is waiting for its international partners to approve a list of proposed economic reforms that it submitted Friday.

Greece needs the green light before it can get any more money from lenders. The new left-wing government of the heavily indebted nation could run out of money in a matter of weeks if creditors don't agree to release more bailout funds.

4. Economics

The U.S. government will release February data on personal income and spending numbers at 8:30 a.m. ET.

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