Here are 10 things you should know for Thursday, Jan. 28:
1. -- U.S. stock futures suggested Wall Street would open higher Thursday as oil gained and despite the Federal Reserve's note of caution on the world economy.
The central bank issued a cautious assessment of the global economy while also downgrading its view of U.S. growth, after officials from the central bank on Wednesday wrapped up their latest policy meeting by leaving interest rates unchanged.
European stocks traded lower, while Asian shares finished the session mixed. The Shanghai Composite Index in mainland China declined 2.9%.
Oil prices in the U.S. early Thursday rose 0.9% to $32.60 a barrel.
2. -- The economic calendar in the U.S. on Thursday includes weekly Initial Jobless Claims at 8:30 a.m. EST, Durable Goods Orders for December at 8:30 a.m., and Pending Home Sales for December at 10 a.m.
3. -- U.S. stocks on Wednesday spiraled lower after the Federal Reserve acknowledged troubles overseas.
Stocks slumped to session lows in the final hours of trading after the Fed's statement from its latest policy meeting. The S&P 500 declined 1.1%, and the Dow Jones Industrial Average fell 1.4%, while the Nasdaq tumbled 2.2%.
"The Fed is specifically acknowledging that they're closely monitoring global economic and financial developments and the implications that it may have to their dual mandate and the balance of those risks," Bill Northey, chief investment officer of the Private Client Group at U.S. Bank, told TheStreet.
The social network posted adjusted earnings of 79 cents a share, ahead of analysts' expectations of 68 cents. Revenue was $5.84 billion, ahead of forecasts of $5.36 billion.
Facebook's success was driven by substantial growth within its mobile advertising unit, where revenue was $4.51 billion. Mobile advertising represented about 80% of all of Facebook's advertising revenue for the quarter.
The stock rose 9% in premarket trading.
Facebook is a holding in Jim Cramer's Action Alerts PLUScharitable trust portfolio.
"All in all, we are completely blown away by Facebook's quarter where it outdid expectations across the board. The company and its agile management team are outdoing their peers in all categories and they are just getting started on what is promising to be a long, profitable journey,' wrote Cramer and Jack Mohr, research analyst at Action Alerts PLUS.
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The payments company, spun off from eBay in July, said net income in the fourth quarter rose 28%. Adjusted earnings were 36 cents a share, ahead of analysts' forecasts.
Revenue rose 17% to $2.56 billion.
The company said it processed $82 billion in total payment volume during the quarter, a 29% increase on a constant-currency basis. The company also added 6.6 million users during the quarter.
For the current quarter ending in April, PayPal said it expects per-share earnings to range from 34 cents to 36 cents. Analysts expect 35 cents a share. It expects revenue in the range of $2.47 billion to $2.52 billion for the fiscal first quarter. Analysts expect $2.47 billion.
Shares of PayPal rose 4.9% in premarket trading on Thursday.
PayPal is a holding in Jim Cramer's Action Alerts PLUScharitable trust portfolio.
The company said it expects first-quarter earnings, excluding one-time items, of 43 cents to 45 cents a share, below Wall Street forecasts of 48 cents.
eBay said it expects revenue of $2.05 billion and $2.10 billion; analysts predict revenue of $2.16 billion.
Revenue for the second quarter is expected to be between $4.9 billion and $5.7 billion. Wall Street is anticipating revenue of $5.69 billion.
Qualcomm reported on Wednesday that earnings for its fiscal first quarter were 97 cents a share, which topped estimates by 7 cents.
8. -- Alibaba (BABA) - Get Report reached a roughly $900 million deal to sell its stake in Meituan-Dianping, China's largest online provider of movie ticketing, restaurant bookings and other on-demand services, as the Internet giant builds its own competing platform, The Wall Street Journal reported, citing people familiar with the situation.
9. -- Artisan Partners, a major shareholder in Johnson & Johnson (JNJ) - Get Report urged several activists to pressure the consumer products giant to consider major changes that include a potential split, Reuters reported, citing sources and documents.
Artisan has asked Johnson & Johnson's management to consider separating its three divisions -- consumer products, pharmaceuticals and medical devices -- into standalone companies in hopes of unlocking up to $90 billion in enterprise value, sources familiar with the matter told Reuters.
10. -- Earnings are also expected Thursday from Amazon.com (AMZN) - Get Report , Caterpillar (CAT) - Get Report , Ford (F) - Get Report , Microsoft (MSFT) - Get Report , StanleyBlack & Decker (SWK) - Get Report , Under Armour (UA) - Get Report and Visa .
Stanley Black & Decker is a holding in Jim Cramer's Action Alerts PLUScharitable trust portfolio.