Stocks: Investors hope for jobs boost

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NEW YORK (CNNMoney) -- Stocks were poised to rebound Wednesday, as investors monitor the U.S. economy and await President Obama's highly anticipated jobs speech.

On Thursday, the president is expected to propose new stimulus measures that include a jobs package worth billions of dollars, and an extension of the payroll tax cut.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures all rose more than 1% in premarket trading. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

U.S. stocks fell Tuesday, extending last week's losses, as the long-running debt crisis in Europe continued to weigh on investor sentiment.

Jobs are clearly on investors' minds, especially following last week's dismal government report that showed zero job growth in August -- stoking fears of another recession.

Recession risk just got worse

It's been a rough few weeks for investors as stocks have been quick to react to a series of mixed economic reports. That's resulted in a roller coaster ride that doesn't seem to be ending anytime soon.

Economy: Federal Reserve Chairman Ben Bernanke will discuss the nation's economic outlook at an event in Minnesota.

The Mortgage Bankers Association said the number of Americans who filed applications for the week ended Sept. 2 fell 4.9%.

The Federal Reserve will release its September "Beige Book" at 2 p.m. ET. The report offers a localized and anecdotal account of economic conditions in the United States.

Companies: Investors will be keeping an eye on Yahoo (YHOO, Fortune 500). On Tuesday, news broke that Carol Bartz was fired. Tim Morse, the company's chief financial officer, will take over as Yahoo's interim CEO. Shares of the company rose 5% in premarket trading.

Late Tuesday, Bank of America (BAC, Fortune 500) announced plans to reshape its management team by letting go Joe Price, the president of consumer and small-business banking, and Sallie Krawcheck, president of wealth and investment management.

Bank of America shares rose 3% ahead of the opening bell.

Other financial stocks also moved higher in premarket trading, with shares of Citigroup (C, Fortune 500) and Goldman Sachs (GS, Fortune 500) rising 1.6%. JPMorgan (JPM, Fortune 500)'s stock gained nearly 2%.

Brace for profit forecasts to be reeled in

Talbots (TLB) reported its quarterly earnings before the opening bell. The clothing retailer posted a loss of 51 cents per share.

After the close, homebuilder Hovnanian Enterprises (HOV) will release its corporate results.

World markets: European stocks were higher in morning trading. Britain's FTSE (UKX) 100 rose 1.76%, the DAX (DAX) in Germany gained 2.74% and France's CAC 40 (CAC40) jumped 2.22%.

Is the euro doomed?

Asian markets ended the session higher. The Shanghai Composite (SHCOMP) ended the day up 1.84%, the Hang Seng in Hong Kong (HSI) added 1.71% and Japan's Nikkei (N225) rose 2.01%.

Currencies and commodities: The dollar was down against the euro, the Japanese yen and the British pound.

Oil for October delivery gained 78 cents to $86.80 a barrel.

Gold futures for December delivery fell $27.20 to $1,846.10 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, with the yield rising to 2.02%.

Worried bonds are no longer safe?

On Tuesday the 10-year yield hit record lows of 1.91% in overnight trading, as investors plowed into Treasuries amidst fears about a slowing U.S. economy and a deepening European debt crisis.