Will Wall Street rebound today?

NEW YORK (AP) — Stock investors are still concerned about global economic prospects in 2014. And they had plenty worry about yesterday.

Disappointing earnings from big U.S. companies, ongoing jitters in emerging markets and more cuts to the Federal Reserve's economic stimulus combined to push stocks lower for the fourth day out of the last five.

The S&P 500 index fell 18 points, or 1 percent, to 1,774. The Dow Jones industrial average fell nearly 190 points, or 1.2 percent, to 15,738. The Nasdaq composite dropped 46 ½ points, or 1.1 percent, to 4,051.

Stocks opened lower in response to the lackluster earnings news. The market added to its declines yesterday after the Fed's announcement at 2 p.m. Eastern time.

The Fed said it will lower its monthly bond purchases by $10 billion to $65 billion because of a strengthening U.S. economy.

Shares fell today in Asia as weak economic data from China and Japan deepened concerns over ongoing reductions in U.S. monetary stimulus.

Meanwhile, economists are predicting that economic growth results being announced today will show solid results.

The government will make its first of three estimates of economic growth for the October-December quarter. Economists are forecasting an annual growth rate of 3.3 percent, after an even stronger 4.1 percent rate for July through September.

Most economists think 2014 will produce the strongest growth since the recession officially ended in June 2009. Many foresee GDP growth of 3 percent or better.

For all of 2013, analysts think the economy grew about 1.9 percent. That would be below the 2.8 percent growth for 2012 as measured by the gross domestic product. GDP represents the country's total output of goods and services.

A key reason for their optimism is an improved outlook for the government sector.

This year, economists also think the economy will get a lift from continued gains in hiring.