Volatile trading in stocks and bonds could continue as investors sort out what's going on with the Fed and whether markets have come to some sort of inflection point.
That makes every bit of economic data even more important, since the Fed has made clear its path will be determined by the progress of the economy, and employment in particular.
(Read More: Pisani: Traders Overreact to Bernanke's Testimony)
Thursday's reports include weekly jobless claims at 8:30 a.m. ET; U.S. manufacturing PMI at 8:58 a.m..; FHFA home prices at 9: a.m. and new home sales at 10 a.m. U.S. markets will also be watching PMI data for China and the euro zone.