Even if Thursday's economic data comes up punk, markets may just write it off to bad weather.
But stocks could continue to waffle after traders found excuses Wednesday to sell following the release of Fed minutes and against the backdrop of deadly protests in Ukraine. Stocks did not cave on a 16 percent drop in housing starts, however, as traders blamed bad January weather for disrupting building activity.
Facebook's late-day announcement of a plan to buy WhatsApp for $16 billion in stock and cash could stir up interest in Internet and other tech names Thursday. Facebook fell nearly 5 percent at one point in late trading.