Stock futures posted strong gains early Wednesday surging in commodity prices eased while the war in Ukraine continues.
Futures for the Dow Jones Industrial screamed higher 506 points, or 1.6%, to 33,108, after a woozy session Tuesday in which the main index fell fall deeper into correction territory.
Futures for the S&P 500 hiked 70 points, or 1.7%, to 4,238.75.
Futures for the NASDAQ Composite leaped 278.75 points, or 2.1%, to 13,545.75.
The gains came amid an easing in commodity prices that have spooked the broader market. Energy and agriculture products in particular have catapulted higher amid the fighting in Ukraine, while some metals also have posted major gains.
Pepsico shares rose 1.8% in pre-market trading after the soft drink giant said it will suspend sales in Russia, though it will continue to sell snacks and essentials such as baby formula.
Elsewhere, shares of dating service Bumble soared nearly 23% after it reported profit and expected growth that was much better than Wall Street expectations.
Earnings continue Wednesday with Campbell Soup, Crowdstrike and Marqeta all set to report.
On the economic data front, investors are looking forward to homebuying data from the Mortgage Bankers Association as well as the Job Openings and Labor Turnover Survey, or JOLTS.
Over in Asia, the Nikkei 225 in Japan fell 0.3%, while the Hang Seng index in Hong Kong dropped 0.7%.
Oil prices dropped $3.64 to $120.07 U.S. a barrel.
Gold prices subsided $18.70 to $2,024.80 U.S. an ounce.