The stock indexes in the U.S. showed signs of being resilient on Monday in trading prior to the opening bell as Wall Street attempts to rebound from its big selloff of last week.

However, a huge Asia selloff on Monday, which battered the markets due to the growing turmoil over emerging markets because of plummeting currencies as well as uncertainty about further reductions in the stimulus program of the U.S. Federal Reserve, inflicted widespread damage on the sentiment of investors on Monday.

Nevertheless, the stock futures in the U.S., helped by new quarterly earnings that beat expectations by Caterpillar the maker of heavy equipment and an economic bellwether, were mostly ignoring the large declines across Hong Kong and Japan prior to the opening of the market in the U.S.

Caterpillar, prior to Monday’s opening bell, reported its earnings for the fourth quarter with revenues and per share earnings higher that expectations set by Wall Street.

The earnings beat gave investor sentiment in the U.S. a boost, as it has reaffirmed the expectations of investors for an economy that will improve during 2014.

For developed markets such as the U.S., the turmoil amidst the emerging markets has seemed to provide a catalyst to give investors justification to take another round of profit taking, said on investment strategist with Oppenheimer.

In Europe, the regional bourses started the week down thanks to the end of last week. Emerging markets that have been helped up for many years by investors, looking for higher returns by using what they called easy money from the stimulus program of the Fed as well as other Central Banks, now are worried as the end is nearing for that easy money.

Some investors are getting out of stocks, but it is not yet clear if the declines seen last Friday were a temporary drop or a negative view in the market that is more entrenched.

Investors are looking forward to the next two meetings that start tomorrow of the Federal Reserve, where many feel fed officials will lower the bank’s monthly purchase of bonds to $65 billion, which will be another drop of $10 billion.