Wound-licking Wednesday

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 5:30 a.m. ET, Nasdaq and S&P futures were sharply higher.

One thing that could affect any recovery is the revision of fourth-quarter gross domestic product figures, due before the open.

Asian stocks continued the selloff that began Tuesday in China, although the Shanghai and Shenzhen indexes finished Wednesday with nearly 4 percent gains. European markets were lower.

Oil eased. U.S. light crude was down 52 cents to $60.94 a barrel in electronic trading.

Treasury prices declined. The 10-year note yield rose to 4.55 percent from 4.51 percent late Tuesday.

Among stocks in the news wereDaimlerChrysler (Charts) and A&P (Charts)

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