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

 

1. Set for more records?

U.S. stock futures are inching higher ahead of the open, which could mean more stock market records by the end of the day.

The S&P 500 index finished Thursday at an all-time closing high after rising by 1.1%. The Dow Jones industrial average also gained 192 points on Thursday, while the Nasdaq jumped by 1.4%.

Meanwhile, the U.S. dollar is staging a modest comeback against a range of major global currencies, after tumbling this month following a significant rally.

 

2. International markets overview

European markets are rising in early trading, while Asian markets closed the week with mixed results.

The Hang Seng was a standout performer, jumping by 2% Friday. The Hong Kong index has surged by 18% since the start of the year.

 

3. Stock market mover -- King Digital

The maker of the popular Candy Crush game is getting crushed. Shares in King Digital Entertainment (KING) are down by roughly 10% premarket after the company said foreign currency swings could hurt its results later in the year. Investors are also concerned about whether the company's new games will be popular.

 

4. Economics

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

 

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During the early trading session, Asian stocks traded lower as the global government bond sell off from major central banks continued as yields reached its highest levels since last year. The Nikkei share average was down 0.98%, closing at 19,570 points and the Shanghai dropped 1.55%. Following the release of positive data from New Zealand, the NZD increased against the Dollar and reached a weekly high of 0.756. The First quarterly Retail Sales and Core Retail sales both showed better than expected figures, indicating a strengthening economy.

European stocks opened nearly flat following yesterday’s Bond Auction report, the data showed that the average yield on the Bund auctioned surged to its highest percentage since November, causing concerns on the government debt situation. Currencies are currently trading with little movement as there are no important economic report releases from the Eurozone, however, the Dollar continues to weigh against its major counterparts including the EUR and the GBP, following yesterday’s weak data. The U.S. Core Retail Sales for April grew 0.1%, below the expected figure of 0.5% and the Monthly Retail Sales remained unchanged, with analysts expecting a 0.2% increase.

We expect to see more movement during the American trading session with the release of a number economic reports, including, the Core PPI, Initial Jobless Claims and more importantly the monthly PPI. Furthermore, Canada will release the New Housing Price Index. If the actual figures from the U.S. and/or Canadian data reports are worse than expected then this could weaken the USD or CAD accordingly.

 

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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. Shifting markets

U.S. stock futures are looking relatively solid ahead of the open and the global bond market has stabilized after a bout of volatility.

The U.S. dollar is dipping against most major currencies and the euro is strengthening.

European markets are mostly declining in early trading. Asian markets ended with mixed results.

Crude oil futures are dipping back down to around $60 per barrel. The price of oil has jumped by about 13% this year after plunging in 2014.

 

2. Another airbag recall

Honda (HMC) has recalled an additional 4.89 million cars equipped with possibly faulty airbags manufactured by Japan-based Takata (TKTDY).

Honda's recall comes one day after its Japanese counterparts Toyota (TM) and Nissan (NSANF) recalled 6.56 million cars of their own. Takata shares fell 5% in Tokyo.

 

3. Earnings and economics

Kohl's (KSS) and British soccer club Manchester United (MANU) are reporting ahead of the open.

Nordstrom (JWN) and El Pollo Loco (LOCO) will report after the close.

The U.S. government will report on weekly jobless claims at 8:30 a.m. ET.

 

4. Wednesday market recap

Wednesday was a mild day in the markets. The main U.S. indexes only made minor moves.

The Dow Jones industrial average lost 8 points, the S&P 500 was essentially unchanged and the Nasdaq edged up by 0.1%.

 

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What is it? Governor Kuroda is due to speak at the Yomiuri International Economic Society Symposium, in Tokyo.

As head of the central bank, which controls short term interest rates, he has important influence over the nation's currency value. Traders scrutinize his speeches as they are often used to drop subtle clues regarding future monetary policy and interest rate shifts.

When? May 14th at 11:40pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the JPY to rise.

 

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What is it? President Draghi is due to speak at the 2015 Michel Camdessus Central Banking Lecture held by the International Monetary Fund, in Washington DC.

As head of the ECB, which controls short term interest rates, he has more influence over the euro's value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? May 14th at 11:00am Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the EUR 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 14th 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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What is it? It checks the change in the price of finished goods and services sold by producers.

It's a leading indicator of consumer inflation - when producers charge more for goods and services the higher costs are usually passed on to the consumer.

When? May 14th 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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