US STOCKS-Futures rebound after selloff on Fed decision; data due

Thu Jan 30, 2014 8:01am EST

* GDP, weekly jobless claims data on tap

* Google shares up after deal with Lenovo Group

* Facebook shares rally after results beat expectations

* Futures up: Dow 37 pts, S&P 5.6 pts, Nasdaq 13.75 pts

By Angela Moon

NEW YORK, Jan 30 (Reuters) - U.S. stock index futures edged up on Thursday, rebounding after a 1-percent drop in key indexes a day earlier, following the Federal Reserve's decision to continue paring stimulus despite a selloff in emerging markets.

* Market participants were looking ahead to the release of data, including on economic growth and jobless claims, both due at 8:30 a.m. EST (1330 GMT).

* Robust household spending and rising exports likely kept the U.S. economy on solid ground in the fourth quarter, but stagnant wages could chip away some of the momentum in early 2014. Gross domestic product probably grew at a 3.2 percent annual rate, according to a Reuters poll of economists.

* Visa Inc shares rose nearly 4 percent in premarket trading after the world's largest credit and debit card company, reported a 9 percent rise in quarterly profit as more people used its cards.

* Google Inc shares rose 2.7 percent in premarket trading, a day after Lenovo Group said it would buy the internet search giant's Motorola handset division for $2.91 billion.

* Facebook Inc shares jumped nearly 19 percent in premarket trading. The social media company delivered its strongest revenue growth in two years a day earlier, beating Wall Street targets.

* S&P 500 e-mini futures rose 5.6 points and were above/below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 37 points and Nasdaq 100 futures added 13.75 points.

* The S&P 500 was down about 4 percent for the month, its worst monthly loss since May 2012. Some investors have been bracing for a correction, after the S&P 500's dramatic advance of 30 percent last year.

* Global equities hit 2-1/2 month lows on Thursday after the U.S. Federal Reserve pushed ahead with reducing stimulus, raising concern about more emerging markets weakness and pushing investors towards safe-haven bonds.

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Comments (1)
bertanderson wrote:
Social media should be able to save the global turmoil. Who would have thought something primarily used by the unemployed workforce could turn around the markets for today?

Jan 30, 2014 9:05am EST  --  Report as abuse
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