OREANDA-NEWS. January 26, 2012. The US indices were flat on Wednesday. S&P 500 Index added 0.87% while Russell was up by 0.93% with Utilities (+1.64%), and Basic Materials (+1.32%) as the leaders. The Fed statement surprised investors as it made the monetary policy view even more transparent and said the rates would be held steady until 2014. Dovish inflation assessment and economic concerns remained the basis for such view. The Richmond Fed Lacker was the only dissenter as he insisted on eliminating economic concerns as the major basis for accommodative monetary policy.

Of 120 S&P 500 Index constituents the EPS of 81 and revenues of 69 companies beat expectations so far.

FHFA home prices Index rose by 1.0% in November vs consensus forecast of 0.0%.

Pending home sales declined by 3.5% vs consensus forecast of a 1.0% rise.

Asian indices were mostly in green on Thursday. Hang Seng was up by 1.55%, Kospi added 0.25%, Japanese Nikkei lost 0.39%. S&P/ASX 200 added 1.12%. Chinese exchanges were closed for the observance of the Lunar New Year Holiday.

Plenty of economic statistics are to be released in the US today. Along with the Chicago Fed Manufacturing Index, Durable Goods Orders and New home Sales, weekly jobless claims will be in focus.

Earnings season will go on with 36 companies to report. AT&T, 3M, Caterpillar results are to be the key events.