Around 6 a.m. ET, Dow futures indicated a positive open of about 125 points. Futures on the S&P and Nasdaq were also higher.
Wall Street closed lower for the first time in four sessions on Tuesday. The recent relief in stocks comes as bond yields paused their recent decline, temporarily easing potential recession fears.
Meanwhile, U.S. President Donald Trump has made new comments about the trading relationship with the European Union. "Dealing with the European Union is very difficult," Trump told reporters at the White House.
"We have all the cards in this country because all we have to do is tax their cars and they'd give us anything we wanted because they send millions of Mercedes over. They send millions of BMWs over," he added. Trump is due to meet with other EU leaders this week at the G-7 meeting in France.
On the data front, weekly mortgage applications are expected out at 7 a.m. ET, while a monthly reading on existing home sales is due at 10 a.m.
In terms of corporate earnings, Lowe's and Target report before the bell, whereas L Brands and Nordstrom will update investors after the bell. Lowe's reported second-quarter earnings that beat Wall Street's estimates.