January 30, 2014- Stocks Look to Slow Recovery from Fed Statement

Early indications suggest that Wall Street stocks may slowly recover from the Fed backlash. The major U.S. index futures are currently pointing to a modestly higher open on Thursday. That said, several catalysts, including earnings from some blue chips and economic data on fourth quarter GDP, jobless claims and pending home sales, could play out in the interim, as the markets attempt to rebound. Among the global markets, Asian stocks closed notably lower, while the European markets are extending their slide amid the release of some domestic earnings. The Dow futures are rising 16 points, the S&P 500 futures are adding 3.25 points and the Nasdaq 100 futures are moving up 9 points. U.S. stocks reversed course on Thursday, retreating sharply amid the FOMC announcement, as a lack of clarity on the pace of stimulus trimming exerted downward pressure on stocks.