Investors may take a wait-and-see stance until the Bank of Japan comes out with its policy statement.

European gains should take away some of the doomsday mentality, but investors will be jittery wondering how U.S. stocks will react. There's still much selling left undone.

Investors have been sensitive to any U.S. economic reports. The housing report brought them some relief.

The Fed's interest-rate increase concerns are receding on the back of evidence growth is slowing. Investors are taking that as a positive for stocks and that's serving as an incentive to buy right now.

Prolonged confusion in the U.S. presidential election and the growing possibility of a political crisis here mean investors are generally holding back.

The market took a breather as investors believed share prices surged too far, too fast in recent sessions. Most market participants were also taking to the sidelines before the release of US employment data later today.