Stocks set to bounce up
U.S. stocks were set to open slightly higher Wednesday, recovering a little from the prior session’s drubbing, with the focus on the banking sector as some key executives prepare to testify before Congress.
At 4:30 a.m. ET, Nasdaq-100, Standard & Poor’s 500 and Dow Jones industrial average futures were all lower.
Asian stocks ended lower Wednesday, with Tokyo’s Nikkei index down 0.3% . European stocks were mixed in early trading.
Oil rose 52 cents to $38.07 a barrel.
U.S. stocks slumped Tuesday, with the Dow industrials ending at a 3-month low, as Treasury Secretary Tim Geithner’s bank rescue plan failed to reassure investors burned by the 14-month old recession. The Dow lost 4.6%, the S&P tumbled 4.9% and the Nasdaq retreated 4.2%.