If the Sydney Futures Exchange is anything to go by, local investors will be given an opportunity to catch their breath today following a couple of rough sessions on the market.

Here’s a quick recap:

  • FTSE 100 (UK): down 1.25%
  • DAX (Germany): down 1.67%
  • CAC 40 (France): down 1.88%
  • Dow Jones (USA): up 0.44%
  • NASDAQ (USA): up 0.75%

Although European markets continued to decline, markets in the United States lifted upon signs that the Federal Reserve will be even slower to hike interest rates than first intended. The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to follow suit with the SPI futures up roughly 0.7%.

Investors will hope for further gains from some of yesterday’s big movers. Coca-Cola Amatil Ltd (ASX: CCL) was one of the bubblier shares after Morgan Stanley upgraded its guidance to ‘overweight’ from ‘underweight’, while Cover-More Group Ltd (ASX: CVO) shares also soared.

Gold bugs will be hopeful for another solid session from the gold miners, too. Shares of companies such as Beadell Resources Ltd (ASX: BDR) and EVOLUTION FPO (ASX: EVN) soared yesterday after gold prices rose above US$1,370 an ounce on heightened Brexit uncertainty.

Woolworths Limited (ASX: WOW) could also be in focus with reports that a price war with rival Coles could be growing more likely.

Citing a report from UBS, The Australian Financial Review said Woolworths’ strategy to cut prices and improve services had so far failed to lure customers back to its aisles, which could prompt ‘irrational’ moves from the retailer.

Vocus Communications Limited (ASX: VOC) shareholders will be given the opportunity to read over its retail entitlement offer booklet today. Eligible shareholders are able to buy 1 new share for every 8.9 shares held for a price of just $7.55 – a 10.9% discount to yesterday’s closing price.

Meanwhile, Medibank Private Ltd (ASX: MPL) announced that it will likely be prevented from providing annual tax statements to the majority of Medibank customers by July 15 due to a major technology upgrade.

The insurer’s CEO noted that this is “unacceptable for customers”. It also won’t do the business’ reputation any favours – particularly in light of the pending investigation being conducted by the ACCC into alleged misleading activity.

Although the market is expected to open higher today, investors should still be picky with the companies they choose to invest in, based on the uncertainty currently facing the economy.

Click here now for a full rundown on 3 shares we think you should avoid today, plus one top pick worth buying, even if the market turns south and the RBA keeps rates at an "emergency low."

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.