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NEW YORK (CNNMoney)
U.S. stock futures were edging slightly higher ahead of the opening bell, though global markets were predominantly in the red.
Investors are watching international developments closely, after a reduced flow of cheap money from the Federal Reserve accelerated a sell-off in some emerging market currencies. The turmoil has prompted a flight from riskier assets, including stocks.
Investors will get their first reading of U.S. fourth-quarter GDP from the Commerce Department at 8:30 a.m. ET Thursday. Also at 8:30, the government will release its weekly report on initial jobless claims.
Related: Fear & Greed Index
A flood of quarterly results are due before the opening bell from firms including UPS (UPS, Fortune 500) and Exxon Mobil (XOM, Fortune 500). Amazon (AMZN, Fortune 500) and Google (GOOG, Fortune 500) are set to report in the afternoon.
U.S. stocks fell Wednesday after the Federal Reserve said it was cutting another $10 billion per month from its economic stimulus program. All the main U.S. indexes declined by more than 1%.
So far in 2014, the Dow Jones industrial average has fallen by 5% while the S&P 500 index has dropped by 4%. The bulk of the losses were sustained over the past few trading days.
Related: CNNMoney's Tech30
But there have been some bright spots. Facebook (FB, Fortune 500) shares surged more than 12% after hours Wednesday following strong quarterly sales and earnings results.
Google (GOOG, Fortune 500) shares also rose in after-hours trading after it announced the sale of its Motorola Mobility smartphone business to China's Lenovo for $2.9 billion.
Related: Asia stocks battered by emerging market fears
European markets were in negative territory in morning trading, and Asian markets also took a knock.
Japan's Nikkei dropped 2.5%, while Hong Kong's Hang Seng shed 0.5% and Australia ASX All Ordinaries lost 0.8%. The Shanghai Composite, which often diverges from other Asian markets, advanced 0.6%. 
First Published: January 30, 2014: 5:14 AM ET
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