U.S. stock futures rose on Wednesday, pointing to a potential rebound after sharp losses on Wall Street as a mild inflation reading gave way to continued concerns over global growth.

Investors will be waiting on fresh data from the U.S., while a batch of updates from China shows that country’s own pandemic struggles.

How are stock futures trading?
  • Dow Jones Industrial Average futures
    YM00,
    +0.19%

    rose 65 points, or 0.2% to 34,529

  • S&P 500 futures
    ES00,
    +0.24%

    rose 10 points, or 0.2%, to 4,445

  • Nasdaq-100 futures
    NQ00,
    +0.31%

    gained 46 points, or 0.3%, to 15,425

On Tuesday, the Dow industrials
DJIA,
-0.84%

dropped 292.06 points, or 0.8%, to finish at 34,577.57, the S&P 500 index
SPX,
-0.57%

fell 25.68 points, or 0.6%, to 4,443.05 and the Nasdaq Composite
COMP,
-0.45%

fell 67.82 points, or 0.5%, to 15,037.76.

What’s driving the market?

Investors have been trying to shake concerns that fallout from the pandemic will string out for global economies, especially as the delta variant has fueled surging cases, notably in the U.S. where the vaccination rollout has been halting. Markets have been trying to regroup after a string of losses that were briefly halted on Monday.

Read: Shop early and expect to pay more: Supply chain issues could be a stumbling block to upbeat holiday shopping forecasts

“I suspect the market is likely to bounce around as it tries to stabilize. From a near term prospective the market is somewhat oversold, therefore we could get a bounce. However the cautious attitude will likely prevail since the decline has been accompanied by low volume,” Peter Cardillo, chief market economist at Spartan Capital Securities, said in emailed comments.

More data is ahead for Wednesday, starting with August import prices and the New York state Empire factory index for September, both due at 8:30 a.m. Eastern Time., and Industrial production and capacity utilization for August due at 9:15 a.m. Eastern.

The bounce for futures came despite a batch of downbeat data from China, where August retail sales grew a disappointing 2.5% from a year earlier, from 8.5% growth in July. Industrial output in August and fixed-asset investment also fell short of expectations.

Which companies are in focus?
How are other assets trading?
  • The yield on the 10-year Treasury note
    TMUBMUSD10Y,
    1.277%

    was flat at 1.285%. Yields and debt prices move in opposite directions.

  • The ICE U.S. Dollar Index
    DXY,
    -0.17%
    ,
    which measures the currency against a basket of six major rivals, fell 0.2% to 92.45.

  • Oil futures were higher, with the U.S. benchmark
    CL00,
    +1.33%

    rising $1.19 to $71.30 a barrel. October natural gas
    NGV21,
    +3.86%

    climbed 3.5% to $5.44 per million British thermal units.

  • In European equities, the Stoxx Europe 600 index
    SXXP,
    -0.21%

    slipped 0.1%, while London’s FTSE 100 index
    UKX,
    +0.07%

    was flat.



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