U.S. Stock Futures Edge Higher After Selloff

By Chris Dieterich 

U.S. stock futures edged higher on Wednesday, with the market poised to rebound from sharp losses as earnings season was set to kick off.

Futures on the Dow Jones Industrial Average rose 29 points, or 0.2%, to 16682. S&P 500 futures gained five points, or 0.3%, to 1933, while Nasdaq-100 Index futures climbed eight points, or 0.2%, to 3964.

On Tuesday, the Dow plunged 272.52 points, its third move of at least 200 points in the past five trading days, as concerns escalated about global growth prospects.

Stocks continued to drop in Europe on Wednesday. The Stoxx Europe 600 slid 0.4%. Germany's DAX dropped 0.5%, in jeopardy of falling to its lowest level since December 2013.

After a number of foreboding economic signals in recent days, investors will get quarterly earnings reports in the weeks ahead. Aluminum producer Alcoa unofficially kicks off earnings season Wednesday with its report after the closing bell.

Yum Brands rose 1% in premarket trading after the fast-food company reported weak sales in China, but strong revenues at KFC and Taco Bells outside of China.

In Asia, the Nikkei 225 fell 1.2% and the Hang Seng fell 0.7%.