Car-related topics are being watched today, from scandal fallout through luxury brands to the price of oil.
U.S. stock futures are edging higher, and global markets are firm.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Volkswagen crashing
Volkswagen (VLKAY) shares are plunging again, this time after the company said it had understated CO2 emissions and fuel usage for about 800,000 vehicles. It said most, but not all, of the cars affected have diesel engines. That news broke the day after VW disputed a claim by U.S. regulators that the diesel emissions scandal had spread to some Porsche Cayenne models.
Takata (TKTDY) shares closed down over 13% after Honda (HMC) announced it was dumping its longtime supplier over its deadly airbags. Takata is also facing fines of as much as $200 million in the U.S. over the exploding airbags.
Bucking the trend, Hyundai (HYMTF) closed higher in Korea after the car maker announced it is launching a global luxury brand called Genesis.
2. More market movers
Japan Post Holdings surged 26% after its mega IPO, which also saw its banking and insurance subsidiaries go public. It helped Japan's Nikkei index rise over 1%.
In London, Burberry (BBRYF) shares are up after it announced it is combining its brands under a single Burberry label. It also announced it's investing $77 million in a new factory for its trademark trench coats.
Tesla (TSLA) shares shot up more than 11% in after-hours trading. The electric car company reported revenue below expectations but said there is "growing demand" for energy-storing batteries and its vehicles. CEO Elon Musk said the company is poised for a banner year in 2016.
3. Earnings
Allergan (AGN), 21st Century Fox (FOX), Sodastream (SODA), Wendy's (WEN) and CNN's parent company, Time Warner (TWX), report before the bell.
After the close Facebook (FB, Tech30), King Digital (KING), BlackRock (BLK), Qualcomm (QCOM, Tech30), Whole Foods (WFM) and cyber security firms AVG Tech (AVG) and FireEye (FEYE) will post their earnings.
4. Economics
Markets will be keeping a close eye on oil prices as U.S. crude inventory data will be published at 10.30 a.m. Last week inventories increased more than analysts predicted.
The ADP will post its non-farm private employment report for October.
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