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.

Most European markets are dipping into the red, shrugging off a report out of Germany that suggests businesses have been holding up well in September. The Ifo Business Climate report was better than August and beat economists expectations.

In Asia, the Japanese Nikkei index took a 2.8% dive following the release of sluggish manufacturing data for September. The numbers from Markit show a sharp reduction in international demand, particularly from China.

Across the rest of Asia, trading was mixed.

2. Stock market movers -- BMW, VW, Consol Energy

Shares in BMW (BAMXY) are falling sharply in Europe as investors worry that the luxury German automaker may be caught up in a widening scandal over diesel emissions. A German magazine reported that one BMW model breached European pollution limits in road tests. BMW has said it does not use any software that can manipulate emissions in a test cycle.

Meanwhile, VW shares continue to recover in Europe after being slammed into reverse earlier this week.

The automaker's CEO resigned Wednesday after the company admitted cheating U.S. emission tests and reported significant discrepancies in emissions between test and road conditions in 11 million vehicles worldwide. The company now faces well over 30 lawsuits in the U.S. related to the scandal, and German state prosecutors are considering legal action.

Coal and natural gas producer Consol Energy (CNX) is seeing wild swings in its shares in premarket trading. The stock dropped by 8.6% on Wednesday as coal futures prices fell, but now it's set for a sharp recovery at the open.

3. Earnings

Book publisher Scholastic (SCHL) and consulting firm Accenture (ACN) will report ahead of the open.

Retailers including Nike (NKE), Pier 1 (PIR) and Bed Bath & Beyond (BBBY) are reporting results after the close.

4. Economics

The Department of Labor is releasing weekly jobless claims data at 8:30 a.m. ET. Federal unemployment statistics have shown for months that the labor market is in good shape.

At 10 a.m., the Census Bureau will release new home sales data for August.

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What is it? Fed Chair Yellen is due to deliver a speech titled "Inflation Dynamics and Monetary Policy" at the University of Massachusetts, in Amherst.

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

When? September 24^th at 5:00pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD 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? September 24^th 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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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

1. Volkswagen veers off course

Shares in Volkswagen are dropping sharply in Europe after American regulators accused the automaker of cheating on emission control tests.

Volkswagen's CEO Martin Winterkorn issued a statement Sunday that stopped short of admitting guilt, but said he was "deeply sorry that we have broken the trust of our customers and the public."

Federal and California regulators say emission controls in some Volkswagen and Audi models were programed only to turn on when the car was being tested.

The software is installed in nearly 500,000 Volkswagen cars on U.S. roads.

VW said it had stopped selling the vehicles at issue.

2. Greece in the spotlight

Alexis Tsipras has declared victory in Greece's snap elections Sunday.

Tsipras became prime minister in January 2015 and helped negotiate a new bailout for the country.

"The result is a government that is likely to be exactly the same as the last government, although Prime Minister Tsipras was not the anti-establishment candidate this time," said Paul Donovan, a senior economist at UBS.

Investors seem to have shrugged off the results, with the Greek index moving between positive and negative territory in early trading.

3. Market moves

U.S. stock futures are pushing higher after being in the red earlier this morning.

Pharmaceutical giant Bristol-Myers Squibb (BMY) is rising in extended trading while Chesapeake Energy (CHK) shares are drooping.

European markets are mixed in early trading, while Asian markets ended with broadly negative results. However, the main indexes in China closed with gains.

The Shenzhen index rallied by 3.6% and the Shanghai Composite jumped by nearly 2% over the course of the trading day.

4. Friday market recap

Friday was a negative day in the markets. The Dow Jones industrial average dropped 1.7%, while the S&P 500 shed 1.6% and the Nasdaq lost 1.4%.

The turmoil came one day after the U.S. Fed announced that it was leaving its benchmark interest rate near 0%.

Fed chief Janet Yellen said in explanation: "The outlook abroad appears to have become more uncertain."

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