The major U.S. index futures are pointing to a higher opening on Thursday, with sentiment continuing to get a boost from yesterday’s FOMC announcement. Meanwhile, across the Atlantic, Italy successfully auctioned 2-year bonds and an indicator of German consumer sentiment came in better than expected. A domestic report released earlier in the day showed a stronger than expected increase in durable goods orders, while the weekly jobless claims rose by a little more than expected. Meanwhile, domestic earnings news has been mixed. The focus now shifts to the new home sales report to be released shortly after the markets open and the talks between Greece and its private creditors regarding a debt swap deal. The Fed announcement has served to weaken the dollar on account of which commodities are seeing strength, which may prove positive for commodity-related stocks.U.S. stocks cheered the Fed announcement and advanced on Wednesday despite economic uncertainties continuing to remain an overhang. The major averages opened on a mixed note, with the Dow Industrials and the S&P 500 Index opening lower, while the Nasdaq Composite opened higher, buoyed by Apple’s (AAPL) quarterly results. The early apprehension was in reaction to some mixed earnings, a couple disconcerting global data points and the still very-much alive European debt crisis.After the release of the Fed’s post-meeting policy statement, the averages recovered and moved uniformly higher. The buying spree intensified following Federal Reserve Ben Bernanke’s press briefing.The Dow Industrials ended up 81.21 points or 0.64 percent at 12,757 and the S&P 500 Index added 11.40 points or 0.87 percent before closing at 1,326, while the Nasdaq Composite Index outperformed with a gain of 31.67 points or 1.14 percent, closing at 2,813.Twenty-four of the thirty Dow components closed higher, with Alcoa (AA), American Express (AXP), Caterpillar (CAT), DuPont (DD) and Travelers Companies (TRV) advancing strongly.Biotechnology, gold and airline stocks advanced strongly on a day when most stocks closed higher, while networking stocks came under some selling pressure.Following the conclusion of the 2-day monetary policy meeting, the Federal Reserve said it expects economic conditions over the medium term to warrant exceptionally low levels for the federal funds rate at least through late 2014 compared to its earlier view of keeping interest rates unchanged till the middle of 2013.Much of the remainder of the statement was maintained unchanged, while the central bank reiterated its commitment towards implementing its already announced bond buying program.Updating its economic forecast, the Fed lowered the central tendency of its 2012 GDP forecast to 2.2-2.7 percent from 2.5-2.9 percent. The 2013 forecast was also lowered to 2.8-3.2 percent, but the 2014 forecast was upwardly revised to 3.3-4 percent from 3-3.9 percent.The unemployment rate projections were lowered for all three years, while for core PCE inflation, the Fed upwardly revised the high end of its 2012 forecast and also nudged up its forecast for 2013.In a landmark event, the central bank also unveiled the interest rate forecast of the FOMC members, with most members expecting normalization to begin by the end of 2014. They also see the possibility of QE3 later in 2012.A report released by the National Association of Realtors showed that pending home sales fell 3.5 percent month-over-month in December. Sales declined in the South, West and Northeast, while the Midwest experienced a modest increase.Commodity, Currency MarketsCrude oil futures are rising $1.50 to $100.90 a barrel after advancing $0.45 to $99.40 a barrel on Wednesday. The previous session’s advance came amid the Fed announcement and the release of the weekly inventory report, which showed that crude oil stockpiles rose by 3.6 million barrels to 334.8 million barrels in the week ended January 20th, remaining in the upper limit of the average range.Gasoline stockpiles edged down by 0.4 million barrels yet remained in the upper limit of the average range. Distillate inventories declined by 2.5 million barrels and were in the middle of the average range. Refinery capacity utilization averaged 84.1 percent over the four-weeks ended January 20th compared to 84.6 percent over the previous four weeks.Gold futures, which climbed $35.60 to $1,700.10 an ounce in the previous session, are currently rising $29.60 to $1,729.70 an ounce.Among currencies, the U.S. dollar is trading at 77.585 yen compared to the 77.7810 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is trading at $1.3159 compared to yesterday’s $1.3106.AsiaDespite the Fed optimism, the Asian markets closed on a mixed note. The Japanese markets closed modestly lower, weighed down by some disappointing domestic earnings, while the remaining markets that were open ended higher. The Australian, Chinese, Indian and Malaysian markets remained closed for public holidays.Hong Kong market, which opened after a 3-day break, saw the Hang Seng Index rise by 328.77 points or 1.63 percent to 20,439. South Korea’s Kospi closed 0.25 percent higher. Meanwhile, Japan’s Nikkei 225 average slid 34.22 points or 0.39 percent to 8,850.Europe Meanwhile, European markets are advancing strongly, with the major averages in the region, including the CAC 40, DAX and FTSE 100, all trading up over 1 percent.A consumer climate survey done by the GfK Institute showed that the German consumer climate is set to improve in February. The forward-looking consumer climate index is expected to increase to 5.9 in February from a revised reading of 5.7 in January. The index was expected to come in at 5.6. Meanwhile, Italy sold 4.5 billion euros worth of 2-year bonds, at the high end of its target. The auction drew a yield of 3.20 percent, sharply below the previous auction’s yield. In corporate news, Spanish retailer H&M reported a decline in its fourth quarter pre-tax profit despite sales, including VAT, rising 6 percent in local currencies. The U.K.’s Anglo American said its iron ore production rose 5 percent in the fourth quarter, while its copper production was up 12 percent. Low cost carrier easyJet said its first quarter revenues climbed 16.7 percent.Computer mice maker Logitech (LOGI) reported a decline in third quarter profit and earnings. The company also warned on its profit and revenues for the full year.U.S. Economic Reports New orders of durable goods in the U.S. increased by a greater than expected level in December, according to figures released Thursday by the Commerce Department. Durable goods orders came in at $214.5 billion in December, a 3 percent increase over November's figures. Furthermore, November's durable goods orders, initially reported as a 3.8 percent increase, were revised up to show a 4.3 percent increase. Most economists had forecast a more modest 2.2 percent increase in durable goods orders for December.First-time claims for U.S. unemployment benefits increased by a little more than expected in the week ended January 21st, according to a report released by the Labor Department on Thursday, with jobless claims rebounding from the previous week's nearly four-year low. The report said jobless claims rose to 377,000 from the previous week's revised figure of 356,000. Economists had expected jobless claims to increase to 370,000 from the 352,000 originally reported for the previous week. The Commerce Department is due to release its new home sales report for December at 10 am ET. The consensus estimate calls for new homes sales of 320,000.In November, new home sales came in at a seasonally adjusted annual rate of 315,000, up 1.6 percent from October and 9.8 percent higher than in the year-ago period. The median sales price of a new house was at $214,100, down 3.82 percent from the previous month. Meanwhile, inventories fell about 1.25 percent month-over-month in absolute terms and dipped to 6 months of supply from 6.2 months of supply in October.The Conference Board is scheduled to release a report on its U.S. leading index for December at 10 am ET. The consensus estimate calls for a 0.7 percent increase by the leading indicators index for the month.The U.S. leading indicators index rose 0.5 percent month-over-month in November following a 0.9 percent increase in October. Interest rate spread and housing permits made the largest positive contributions to the index, helping to offset the weakness stemming from a drop in average workweek in manufacturing. The coincident index as well as the lagging economic indicators index rose 0.1 percent each.The Kansas Federal Reserve is set to release its report on manufacturing activity in the region at 11 am ET.Stocks in Focus EarningsCaterpillar (CAT) reported fourth quarter earnings of $2.32 per share on revenues of $17.24 billion. The results exceeded expectations. For 2012, the company expects sales of $68 billion to $72 billion, higher than the consensus estimate.AT&T’s (T) fourth quarter earnings trailed estimates.3M Co. (MMM) reported fourth quarter earnings and revenues above estimates, while it also reaffirmed its guidance for 2012.Jacobs Engineering (JEC) reported first quarter earnings that exceeded estimates, while its revenues missed expectations. The company reaffirmed its earnings expectations for 2012.Teradyne (TER) reported better than expected fourth quarter results and raised its first quarter guidance above consensus estimate.Noble (NE) said its fourth quarter earnings came in at 50 cents per share, in line with estimates, while its revenues trailed estimates.E*TRADE (ETFC) reported a fourth quarter loss of 2 cents per share on net revenues of $475 million. The results trailed estimates.Anti-virus software maker Symantec (SYMC) reported third quarter earnings and revenues that exceeded estimates, while it issued soft fourth quarter guidance.SanDisk (SNDK) reported fourth quarter earnings that were ahead of estimates, while its revenues were about in line with estimates. (NFLX) fourth quarter earnings fell to 73 cents per share from 87 cents per share last year despite revenues rising 47 percent to $876 million. The results were better than expected. The company estimates a loss of 16-49 cents per share for the first quarter compared to estimates for a loss of 30 cents per, while the company’s revenues guidance of $842 million to $917 million compared favorably to analysts’ estimate of $848 million.Covance (CVD) reported fourth quarter adjusted earnings of 73 cents per share on revenues of $532.5 million. The company issued lackluster guidance. Separately, the company also said its board authorized a $300 million stock buyback program. Stanley Black & Decker (SWK) reported fourth quarter adjusted earnings of $1.36 per share on revenues of $2.8 billion. The company expects adjusted earnings of $5.75-$6 per share for 2012. The company’s fourth quarter results were better than expected, while its 2012 earnings guidance surrounded the consensus estimate.Murphy Oil’s (MUR) preliminary fourth quarter results revealed a loss from continuing operations, excluding one-time items, of 59 cents, while its revenues exceeded estimates. The company’s first quarter earnings estimate was below the consensus estimate.Amgen (AMGN), Chubb (CB), Compuware (CPWR), Freescale Semiconductor (FSL), Juniper Networks (JNPR), KLA-Tencor (KLAC), Lattice Semiconductor (LSCC), Motorola Mobility Holdings (MMI), Qlogic (QLGC), ResMed (RMD), Robert Half (RHI), Starbucks (SBUX) and Verisign (VRSN) are all scheduled to release their results after the markets close. Other Corporate NewsAmgen (AMGN) announced a deal to buy Micromet ( MITI) for about $1.16 billion.