U.S. stock index futures were higher Wednesday, looking to rebound from sharp declines in the previous session, following data from China and some better-than-expected earnings reports.
The China HSBC Flash Manufacturing Purchasing Managers Index (PMI) showed that growth shrank for the 12th straight month in October, but output hit a three-month high and order books were at their strongest since April, signaling a strengthening recovery.
But businesses in the euro zone suffered their worst month in October since the last recession more than three years ago, according to the Markit's Composite PMI. Still, European shares held gains.
Stocks closed sharply lower across the board in the previous session, with the Dow logging its worst one-day drop since June, pressured by several disappointing quarterly results and amid renewed fears over Spain's weak economy.
Among earnings, Boeing posted earnings that topped expectations and revenue that matched forecasts. In addition, the company lifted its forecast for the full year.
Fellow Dow component AT&T reported a profit that beat expectations, helped by strong revenue from its wireless operations.