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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. Stock market overview

U.S. stock futures are looking soft ahead of the open.

European markets are mostly lower in early trading.

Asian markets ended with mixed results.

 

2. Earnings

Best Buy (BBY)and Dollar Tree (DLTR) are reporting ahead of the open.

Hewlett-Packard (HPQ, Tech30) and The Gap (GPS) will report after the close.

 

3. Economics

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

The National Association of Realtors will report existing home sales data at 10 a.m. ET.

 

4. Wednesday market recap

The Dow Jones industrial average fell 27 points on Wednesday, dipping back after hitting a record closing high earlier in the week. The S&P 500 slid 0.1% and the Nasdaq was unchanged.

 

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What is it? President Draghi due to deliver opening remarks at the ECB Forum on Central Banking titled "Inflation and Unemployment in Europe," in Portugal.

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 21st at 1:30pm 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 level of a diffusion index based on surveyed manufacturers in Philadelphia.

It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.

When? May 21st 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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