Wall Street pulls back following Fed
Credit: Reuters/Lucas Jackson
1 of 3. Traders pause during a moment of silence to honor victims of the 9/11 attacks on the World Trade Center, on the floor of the New York Stock Exchange September 11, 2013.
* U.S. Federal Reserve defied investor expectations on Wednesday by postponing a wind-down of its massive monetary stimulus, saying it would wait for more evidence of solid economic growth. The Fed will continue, for now, with its $85-billion monthly bond purchases which have propped up economic growth and equity markets for much of the year.
* The news boosted global equity markets, including European shares, which were on track for their highest close in more than five years. Southeast Asian stocks and currencies also rose sharply as investors returned to emerging markets in droves after the Fed's decision.
* The FTSEurofirst 300 .FTEU3 was up 0.9 percent at 1,270.25 points, around its highest since mid-2008.
* S&P 500 futures rose 6.2 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 58 points, and Nasdaq 100 futures added 13 points.
* In economic news, weekly jobless claims are due at 8:30 a.m. EDT (1230 GMT). Analysts in a Reuters survey expect claims to have risen to 330,000, from the previous week's 292,000. Existing home sales data is due at 10:00 a.m. (1400 GMT).
* Priceline Com Inc (PCLN.O) shares could be in the spotlight after its shares hit $1,000 on Wednesday, the first S&P 500 stock to hit that level. The stock was unchanged in premarket trade.
* On Wednesday, the Dow Jones industrial average and S&P 500 indexes climbed to all-time highs after the Fed announcement.
(Reporting by Angela Moon; Editing by Bernadette Baum)
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