Wednesday should see yet another positive showing after Tuesday's session helped stocks stabilize after a massive sell-off in the preceding three sessions. Investors will keep an eye on the minutes of the Federal Open Market Committee's March 18-19 meeting as well as on first-quarter corporate earnings.

Futures on the Dow Jones Industrial Average were up 0.25 percent while futures on the S&P 500 were up 0.16 percent and those on the Nasdaq were up 0.31 percent. On Tuesday, the Dow ended the session nearly flat, or up 0.06 percent, and the S&P 500 rose 0.38 percent while the Nasdaq climbed 0.81 percent.

On the earnings calendar, retailer Bed, Bath & Beyond Inc. (NASDAQ: BBBY), is scheduled to announce first-quarter earnings after market hours. On the economy and data front, minutes of the FOMC meeting are scheduled to be released at 2 p.m. EDT. Jobless claims data are expected Thursday, while numbers on Producer Price Index, or PPI, and consumer sentiment are scheduled for Friday.

In Europe, markets were upbeat with the Stoxx Europe 600 index up 0.56 percent while the FTSE 100 was up 0.76 percent. Germany’s DAX-30 rose 0.46 percent while France's CAC-40 was up 0.54 percent.

In Asia, Japan's Nikkei-225 plunged 2.1 percent while Australia’s S&P/ASX 200 was up 0.98 percent. Hong Kong’s Hang Seng rose 1.09 percent and the Shanghai Composite was up 0.33 percent. South Korea’s Kospi was up 0.3 percent and India's BSE Sensex climbed 1.61 percent.