Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
Another day, another devaluation for the Chinese yuan.
But investors are not freaking out like earlier in the week.
1) All eyes on China
The Chinese currency dropped again versus the U.S. dollar, but the central bank is rushing to calm fears about the yuan's more than 3% tumble over the past three days.
The central bank said Thursday that it expects the currency to stabilize, and that circumstances no longer call for continued depreciation.
China's government has in the past tightly controlled the yuan, but now it's trying to allow market forces to play a larger role in setting the value of the currency.
2) Stock Market rebound
The yuan's recent, unexpected moves frightened traders. Many hit the "sell button." But now people have calmed down.
U.S. stock futures are pointing up Thursday. European markets are making big advances in early trading and all Asian markets closed with gains.
"Fears of [a] Chinese economic meltdown appear to have been allayed for the time being," said Augustin Eden, a research analyst at Accendo Markets.
3) Earnings
Kohl's (KSS), Dillard's (DDS), Coty (COTY) and Nestle (NSRGY) are reporting earnings before the market opens.
This afternoon, a handful of companies, including Nordstrom (JWN), will report after the market closes.
4) Stock market movers
News Corp. and Cisco: Shares in News Corp (NWS) and Cisco (CSCO, Tech30) are expected to surge by about 4% at the open on the back of well-received earnings, which came out Wednesday evening.
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