Futures extended their rally Wednesday, attempting to rebound from a three-day decline, following a German court ruling in favor of the country's participation in Greece bailout.
Shares in Europerallied as traders welcomed a ruling by Germany’s highest courtwhich rejected a series of lawsuits aimed at blocking Germany's participation in bailout packages for Greece and other euro zone countries.
The decision was expected, but nevertheless removed uncertainty surrounding Europe’s tackling of the debt crisis.
Also in Europe, Italian Prime Minister Silvio Berlusconi faces a confidence vote in the Senate following the latest changes to a widely criticized austerity package aimed at staving off financial crisis.
Meanwhile, President Obama, plans to announce a $300 billion job-creation packageduring his televised speech to Congress on Thursday, according to CNN, citing Democratic sources.
Yahoo jumped after the Internet company said it fired CEO Carol Bartz and replaced her on an interim basis with CFO Tim Morse, ending her tumultuous run at the helm of the group.
Also, Bank of America rallied after the banking giant made major changes to its staff, including the departure of Joe Price, head of consumer banking, and Sallie Krawcheck, head of global wealth and investment management.
Among energy companies, Chevron rose after the oil giant announced it made a deepwater discovery in the Gulf of Mexico.
BP CEO Tony Hayward has returned to the oil business with an agreement to acquire Turkish explorer Genel Energy via a reverse takeover to create a Kurdistan-focused group worth $4 billion.