Investors are also keeping an eye on the World Economic Forum in Davos, Switzerland, where business and political leaders have gathered to discuss economic issues. JPMorgan Chase Chief Executive Jamie Dimon, who attended the event Wednesday, apologized again to shareholders for trading losses the bank suffered on credit derivatives last year, although he said "life goes on."

U.S. stocks finished higher Tuesday, with the Dow and the S&P 500 ticking up to fresh 5-year highs

European markets were mixed in morning trading, while Asian markets ended mostly flat, with the exception of the Nikkei, which slumped 2%.