U.S. stocks poised to REBOUND from huge selloff

U.S. stocks poised to rebound from huge selloff


NEW YORK (CNNMoney.com) -- U.S. stocks were poised for a big rebound at Wednesday's open, less than a day after a huge selloff that included the Dow industrials' biggest one-day drop since 2001.

At 8:54 a.m. ET, Nasdaq and S&P futures, which predict the direction of stocks at the market open, were sharply higher following the worst day for stocks since the first day of trading following the Sept. 11 terrorist attack.
A trader on the floor of the New York Stock Exchange during

"After the violence of yesterday's (Tuesday's) selloff, it would be typical for us to rebound today," said Art Hogan, chief market analyst at Jefferies & Co. "If we do get a bounce, I wouldn't be surprised."

Asian stocks continued the selloff that began Tuesday in China, although the Shanghai and Shenzhen indexes finished Wednesday with nearly 4 percent gains. A steep drop in those markets Tuesday is one of the factors credited with the global selloff of stocks.

European markets were lower.

[link to money.cnn.com]