US stocks higher as Wall Street eyes second straight day of gains

Stock futures were higher on Wednesday morning after Wall Street ended its three-day losing streak.

Dow Jones Industrial Average futures rose more than 200 points, or 0.74%, while Nasdaq Composite and S&P 500 futures were up 1.7% and 1.2%, respectively.

The major indexes rebounded on Tuesday – paring some gains near the close – a day after U.S. recession fears triggered a global market sell-off. The Dow closed 293.66 points, or 0.76%, higher, while the Nasdaq Composite and S&P 500 finished up 1.03% and 1.04%, respectively.

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Tuesday’s gains followed a trading session that saw Wall Street's worst day since 2022. The Dow had shed more than 1,000 points by Monday’s closing bell as part of the sell-off that was sparked by weak U.S. jobs data and concerns of a slowing of the world’s largest economy.

"While Friday’s employment report was disappointing, it wasn’t the only worrisome economic indicator, only the latest," said Greg McBride, Bankrate's chief financial analyst. "Couple economic concerns with the cacophony of earnings disappointments and weak corporate outlooks, global unrest and currency gyrations, and you have the recipe for sudden volatility."

Big technology names such as Nvidia and Amazon.com continued their recovery after falling sharply on Monday, rising about 2% each in premarket trading.

Chip stocks also continued to recover, with popular names like AMD gaining 2%, while Marvell Technology added 2.6%.

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Japanese stocks continued their upward momentum, with the Nikkei 225 closing 1.19% higher. The index on Monday suffered its worst day since the 1987 Black Monday crash, falling 12%.

In Europe, the Stoxx 600 climbed 1.57% on Wednesday, while the U.K.'s FTSE 100 and Germany's DAX indexes also posted gains.

Reuters contributed to this report