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

Oil prices will most certainly be in focus Tuesday, but there are still plenty of other things to watch in the market.

1) Oil slide

Oil prices continue to slip, with crude futures currently trading around $50 per barrel.

Just last year oil was trading for double that price but then fell off a cliff -- slumping to $43 per barrel in March. They recovered to about $61 but have been falling steadily for the last six weeks.

Earlier this month, the International Energy Agency warned that the market remains "massively oversupplied" and predicted prices could drop again.

Another commodity to watch is gold, which is currently trading at a 5-year low.

2) Stock market overview

U.S. stock futures are relatively stable ahead of the open, following a calm Monday.

European markets are mixed in early trading, while most Asian markets ended with small gains.

3) Stock market movers

PayPal, IBM: Shares in PayPal (PYPLV) are rising by about 3% premarket and there's a great deal of trading going on as the company begins its second day as an independent company.

The online payment service was spun off from eBay (EBAY) on Monday and its shares immediately shot up by about 5%. PayPal is now worth nearly $50 billion.

Newmont Mining Corporation (NEM) shares are also climbing by about 3.5% premarket, recovering from a big drop since Friday. Shares in the miner have been falling steadily since late 2011.

At the other end of the market, IBM's (IBM, Tech30) shares are dipping by about 5% in extended trading after the tech giant posted quarterly earnings that fell short of investors' expectations.

4) Earnings

Summer earnings are still rolling in. Among the companies expected to report this morning are Harley-Davidson (HOG), Travelers (TRV) and Verizon (VZ, Tech30).

After the close, we'll hear from Apple (AAPL, Tech30), Microsoft (MSFT, Tech30), Yahoo (YAHOF), GoPro (GPRO, Tech30) and Chipotle (CMG).

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What is it? RBA Governor Sep 2006 - Sep 2016. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues.       As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? At 11:05am Eastern Time.

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

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What is it? Although this data is extremely late relative to inflation data from other countries, it's the primary gauge of consumer prices and tends to create hefty market impacts. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.

When? At 9:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the AUD to rise.

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1. Wall Street opened slightly higher on Monday, with the Nasdaq composite hitting a record for the third straight day, as better-than-expected earnings from big companies boosted investor confidence.

On Friday, strong earnings from Google (O:GOOGL) pushed the tech-heavy Nasdaq to a record close, which gained 4.3 percent for the week, its largest weekly gain since October while the S&P 500 stopped just short of its record high.

2. U.S. oil futures fell to the lowest level in more than three months on Monday, as ongoing worries over high domestic U.S. oil production, despite a declining rig count, weighed.

On the New York Mercantile Exchange, crude oil for September delivery hit an intraday low of $50.47 a barrel, a level not seen since April 10, before trading at $50.72 during U.S. morning hours, down 49 cents, or 0.96%.

3. PayPal Holdings Inc (O:PYPL) shares jumped as much as 11 percent in their highly anticipated return to the Nasdaq on Monday, valuing the company at about $52 billion.

PayPal, spun off from eBay Inc (O:EBAY), is widely expected to build partnerships with e-commerce rivals and try to seize market share from startups such as Stripe and Square and technology behemoth Apple Inc (O:AAPL), which unveiled its own mobile payments service last year.

4. The U.S. dollar edged up to six-year highs against its Canadian counterpart on Monday, as expectations for an upcoming U.S. rate hike continued to support the greenback, while downbeat wholesale sales data from Canada weighed on the local currency.

USD/CAD hit 1.2999 during early U.S. trade, the daily high; the pair subsequently consolidated at 1.2995, adding 0.18%.

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