U.S. Stock Futures Are Higher as S&P Futures Have Been Fluctuating This Morning

U.S. stock futures are higher:  S&P futures have been fluctuating between positive and negative territory this morning.   Fed’s announcements and following press conference were not overtly unexpected.  No change to current rates, asset purchasing through March at a tapered pace, and eventual balance sheet shrinking were the key elements.   Yields on the 10y & 30y are higher relative to  pre meeting levels and the intermediate/shorter portion of the yield curve have increased more relative to the longer term.  Jobless claims from last weeks totaled 260,000 compared to 265,000 consensus.  4Q21 GDP (annual) was 6.9% relative to estimates of 5.7%, stronger than anticipated despite higher omicron infection rates.  During the 4Q21, economic growth was stronger compared to 3Q21 of 2.3%.  Equity futures inched up post releases.   Earnings seasons continue today with major media and fast-food companies reporting.   European markets are trading lower.  Asian markets ended down sharply.