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> Finally, Odey fears major economies are entering a recession that will be “remembered in a hundred years

People used to call those “depressions” though Obama calls them “happy times” with 5 % unemployment

Today's news... U.S. stock index futures rose on Wednesday, boosted by earnings including from Apple and Boeing, while focus could shift later in the day to the Federal Reserve's first two-day policy meeting of the year.

* The Fed is expected to signal it remains on track to begin raising interest rates later this year, as it shows confidence that low inflation and rising risks from abroad have yet to derail the U.S. economic recovery.

* Nasdaq futures rallied more than 1 percent powered by a 9 percent advance in Apple shares . Apple's quarterly results smashed Wall Street expectations with record sales of big-screen iPhones in the holiday shopping season, which helped the company post the largest profit in corporate history.

* Yahoo gained 6.7 percent after it unveiled plans to spin off its 15 percent stake in Alibaba Group Holding , responding to pressure to hand over to shareholders its e-commerce investment valued at roughly $40 billion.

* Boeing added 4.1 percent premarket after posting its earnings results and outlook.

* U.S. Steel Corp's shares added 8.4 percent the day after its profit beat expectations. Though the company warned that low oil prices and the strong U.S. dollar could negatively impact its business in 2015, it said the potential for higher consumer spending could help lift demand.