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


1) Even More Earnings

Chevron (CVX), MasterCard (MA) and Mattel (MAT) are reporting earnings before the opening bell.

Chevron earnings will be a particular focus as investors look for signs of how rock-bottom crude prices are affecting the company's plans. Mattel shares tumbled nearly 5% premarket after the company said sales and profits fell in the fourth quarter. Barbie sales dropped 12%.

U.S. stock futures were sharply lower ahead of the open.

On Thursday, the Dow Jones industrial average rose 1.3%, while the S&P 500 and the Nasdaq gained 1.0%.


2) Amazon Jumps

Online retail giant Amazon (AMZN, Tech30) reported earnings Thursday that beat Wall Street's expectations. Its shares soared by more than 11% in premarket trading. Google (GOOG) shares were also firmer premarket.


3) A little Bit of Data

The University of Michigan will report the final version of its January consumer sentiment index at 9:55am ET.


4) International Markets Overview

European markets opened firmer on Wall Street's gains, but turned lower in morning trade.

Greek stocks were steady, with banks continuing to recover after slumping earlier this week on fears about the future of the country's international bailout. Greek Prime Minister Alexis Tsipras will meet eurozone officials in Athens Friday for the first time since winning Sunday's election.

Russia slashed interest rates to 15% from 17% in a bid to prevent an even deeper recession.

 

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The FOMC statement was released yesterday and showed optimism regarding the US economy. Members of the committee expressed belief that the economy is improving at a ‘solid’ pace and that the labour market conditions are advancing making the possibility of hiking interest rates during the first half of the year more likely. US markets finished lower.

Asian markets declined across the region. The Nikkei lost 1.06% despite the fact that the Dollar climbed against the Yen due to weaker than expected earnings.

European markets are mixed today.

Oil dropped to a 6 year low following an inventory report from the EIA. The report showed that supplies in the US climbed by 9million barrels over the past week, much above the expected increase of 4.2 million barrels. The stronger Dollar also affects the price so traders should focus on US data including Pending Home Sales later today.

Gold declined and reached a low of 1,264 following the FOMC statement. It is widely expected that interest rates will now be increased in June reducing the appeal of the safe haven asset. In addition, the metal moves inversely to the Dollar which is appreciating on the back of strong data.

 

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US stocks dropped, experiencing their biggest drop in 3 weeks.   Markets were hit by weaker than expected data with Core Durable Goods Orders declining by 0.8%, instead of increasing by the expected 0.6%. The data sparked speculation that the Federal Reserve may postpone their rate hike further and it is now expected in June. Markets were also hit by weak earnings.

Asian markets were mostly higher today. The Nikkei climbed 0.15% reaching a monthly high as the Dollar strengthened against the Yen in anticipation of the upcoming FOMC statement.

European markets are mixed today.

Oil is falling as it is pressured downwards by the stronger Dollar. In addition the API released an inventory report which showed that supplies climbed by almost 13 million barrels in the past week. A further report will be released from the EIA at 3:30pm GMT.

Gold is heading back down as investors become wary ahead of the upcoming FOMC statement. Losses appear limited as it is expected the Fed will be dovish and may postpone hiking rates to later in the year. Nevertheless, traders should watch the report closely as it is likely to spark short term movement in the market.

 

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US markets climbed as investors shrugged off news from Greece. The left wing Syriza party won the elections and came to power. The party is strongly against the austerity program but shock in the market was short lived and traders believe that the result is unlikely to destabilize the European economy. 

Asian markets were mixed today. The Nikkei added 1.72% after the Dollar advanced strongly against the Yen throughout the day, climbing from 117.5 to 118.65. Traders also tracked U.S markets after fears regarding Greece subsided.

European markets are lower today.

Crude Oil declined following the news that the Syriza party won the Greek elections. Today, the price dropped back down and the commodity is now trading choppy. Traders appear to be looking for direction and volatility is expected to remain high unless oil producing countries make an agreement. The API will release inventory data at 9:30pm GMT and could spark short term movement.

Gold declined as traders locked in profits following gains made after the Greek election. In addition, traders appeared to reinvest in riskier assets, ditching the metal for equities. Attention will now turn to Wednesday’s FOMC meeting as investors are eager to learn when the interest rate hike will occur.

 

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On Friday, the EUR/USD pair continued downward as nervousness on the market persisted.

During the weekend, the Greek election took place and as expected, Syriza party won. The pair declined and again tested to break through. However, the pair lost the momentum and bounced back up.

At 9:00am GMT the German Ifo Business Climate will be released and is expected to show the highest figure since July 2014. If the reading disappoints the pair may test the support third time. The movement is sideways.

 

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