Source: Sharecast
As of 1230 GMT, Dow Jones futures were up 0.24%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.92% and 1.95% firmer, respectively.
The Dow closed 157.68 points lower on Tuesday as expectations for a quarter-point rate increase from the Federal Reserve at its next policy meeting rose to roughly 90% after a hotter-than-expected US inflation print increased by 0.4% month-on-month in October.
Cloud infrastructure technology firm CoreWeave surged 16.97% before the open after topping Wall Street expectations with its latest quarterly revenues overnight, fuelled by solid demand for its cloud services. CoreWeave posted revenues of $3.66bn, up from $1.37bn twelve months earlier and ahead of estimates of $3.55bn. It also hiked its full-year revenue forecast to between $13bn and $13.3bn, up from $12.4bn to $13.2bn.
Elsewhere, Nvidia rose 3.76% in pre-market action after the stock dropped almost 10% to begin the week after chief executive Jensen Huang confirmed he had an affair with an alleged Chinese spy
On the macro front, US mortgage applications rose by 6.2% in the week ended 6 November, according to the Mortgage Bankers Association, marking the sharpest weekly increase since June. Last week's increase helped trim the sharp decline in mortgage applications since the start of September, with a pullback in oil prices and a pivot to Treasury securities drove benchmark mortgage rates lower. Applications to refinance a mortgage, which are typically more sensitive to week-to-week interest rate changes, rose by 4.5%, while applications for a mortgage to purchase a new home rose by 7.5%.
No major corporate earnings were slated for release on Wednesday.
Reporting by Iain Gilbert at Sharecast.com