Avoid names that rank poorly when the full earnings estimates for the index are revised down.

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Other U.S. economic reports due for release Thursday are many and include the weekly jobless claims report, the consumer confidence index, revised corporate profits, existing home sales, leading economic indicators, the Philadelphia Fed business survey, the monthly house price index, and foreign central bank holdings.

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The index was revised down to 50.0 from 51.6 for December as a result of annual revisions earlier this week, and market consensus is looking for a small improvement to 50.5 for January.

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This August the index will be revised to include new goods and services, such as mobile-phone charges and personal computers, which have been falling sharply in price.

ECONOMIST: Japan��s economy

Markit's February composite purchasing managers index for the region was revised higher.

WSJ: Broad Rally as Dow Breaks Record

Thursday features revised second-quarter productivity, July pending home sales and the August Monster Worldwide employment index.

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The Institute for Supply Management said its non-manufacuring index rose to 42.9, from a revised 40.1 December reading.

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The report comes a day after the Institute for Supply Management said its non-manufacturing index rose to 42.9, from a revised 40.1 December reading.

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The less-than-expected 0.4% rise in the U.S. Import Index follows a steady period in January and December, where prices were revised down to unchanged, according to a Commerce Department report today.

FORBES: Import Prices Rose 0.4% Last Month; Stocks Calm After Yesterday's Hectic Trading