Stocks could be in for a choppy session Thursday as investors try to make sense of the latest signals from the Federal Reserve about its bond-buying program.
U.S. stock futures were moving up by roughly 0.2% ahead of the opening bell after trading narrowly weaker earlier.
U.S. stocks finished lower Wednesday after minutes from the latest Federal Reserve meeting revealed that Fed officials may start winding down their stimulus program for reasons other than an improving job market. Previously, officials had reassured the market that they would continue with their stimulus until the jobs picture improved.
"Markets skidded a little yesterday as the late U.S. session proved that the taper does matter," wrote Deutsche Bank analyst Jim Reid, in a market report. "The only debate for markets is really how much it matters."
But having said that, markets are still trading at stratospheric levels, with the Dow ending within 100 points of the 16,000 level.
Investors are waiting for the Senate Banking Committee to vote on Janet Yellen's confirmation at 10 a.m. ET Thursday. Yellen has been nominated to head the Federal Reserve starting in early 2014.