January 28, 2014- Stocks Look to a Cautious Move to Upside After Recent Declines

Early indications suggest that Wall Street stocks may open on a mixed note, as negative reaction to Apple's insipid guidance could stifle buying interest generated by bargain hunting. Global cues are mixed, with Asian stocks scrambling to a mixed close after China made yet another cash injection to avert a liquidity crisis. Meanwhile, the European stocks are firmer amid the release of some positive domestic earnings. The mood in the domestic market may also be dictated by data on durable goods orders and consumer confidence. At the same time, the FOMC kick starts a 2-day monetary policy meeting, the first for the year and the last to be chaired by outgoing Chairman Ben Bernanke. The Fed decision due on Wednesday could serve to push traders to the sidelines. The Dow futures are rising 88 points and the S&P 500 futures are adding 9 points, while the Nasdaq 100 futures are moving down 8 points. U.S. stocks moved about in a lackluster manner on Monday before closing lower amid the release of weak new home sales data.