"The Committee views the slowing in growth during the first quarter as likely to be transitory and continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace," the Fed said in a statement.
The economic calendar in the U.S. on Thursday includes weekly Jobless Claims at 8:30 a.m. EDT, International Trade for March at 8:30 a.m., Productivity and Costs for the first quarter at 8:30 a.m., and Factory Orders for March at 10 a.m.
Also on Thursday, the House of Representatives is expected to vote on GOP legislation to repeal and replace Barack Obama's Affordable Care Act.
Earnings are expected Thursday from AMC Networks (AMCX - Get Report) , CBS (CBS - Get Report) , Dunkin' Brands (DNKN - Get Report) , Kellogg (K - Get Report) , Shake Shack (SHAK - Get Report) , Herbalife (HLF - Get Report) , Viacom (VIAB - Get Report) , Activision Blizzard (ATVI - Get Report) , Zynga (ZNGA - Get Report) , Chesapeake Energy (CHK - Get Report) and Marathon Oil (MRO - Get Report) .
Facebook reported first-quarter revenue of $8.03 billion, an increase of 49% from a year earlier, and earnings of $1.04 a share. Analysts expected revenue of $7.83 billion and profit of 87 cents.
Ad revenue rose 51% to $7.86 billion, a growth rate nearly even with the fourth quarter's 53%.
Facebook said monthly active users rose 18% to 1.94 billion, while daily active users rose 17% to 1.28 billion. Both metrics topped analysts' forecasts.
The stock wad down 1.4% in premarket trading.
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3. -- Tesla (TSLA - Get Report) shares were down 1.8% in premarket trading after the electric-vehicle maker posted a wider-than-expected loss in the first quarter but saw revenue top analysts' expectations.
Tesla reported a first-quarter loss of $1.33 a share compared with a year-earlier loss of 57 cents. Analysts expected Tesla to report a loss of 82 cents a share in the first quarter of 2017.
Revenue rose to $2.63 billion, above forecasts of $2.61 billion.
Tesla said its highly anticipated Model 3 vehicle development is nearly complete and that test production has led to road testing.
Deliveries in the quarter set a record at 25,051 vehicles. Tesla said it expects to deliver 47,000 to 50,000 vehicles in the first half.
The move comes as Apple reported its latest quarterly results this week and as the company prepares for a big rollout later this year of its next-generation iPhone. "You're the first person I'm telling," Cook said to Cramer in an exclusive interview. The CEO then averred, saying the company had already told the unnamed firm which it plans to invest in to further the project.
The tech industry has been under pressure to boost employment in the U.S. even as it faces challenges from tighter visa restrictions on workers from abroad imposed by the Trump administration.
Cook's comments came in an extended "Executive Decision" segment, at the company's headquarters in Cupertino, Calif. When Cramer last spoke with Cook a year ago, shares were trading at $93 and the company was under fire from critics. A year later, Apple shares have jumped 60%.
5. -- Royal Dutch Shell (RDS.A - Get Report) posted slightly stronger-than-expected first-quarter earnings and said it would continue to focus on strengthening in balance sheet.
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