Futures Pointing To Early Rebound On Wall Street

(RTTNews) - After showing a substantial move to the downside last week, stocks are likely to regain some ground in early trading on Monday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 46 points.

Bargain hunting is likely to contribute to some early strength on Wall Street following last week's sell-off, which reflected global growth worries and concerns about monetary policy divergence.

Traders may look to pick up stocks at reduced levels, as the Nasdaq and the S&P 500 ended last Friday's trading at their worst closing level in over four months. The Dow also set a new two-month closing low

Nonetheless, trading activity on Monday may be somewhat subdued due to the Columbus Day holiday and the lack of major U.S. economic data.

The economic calendar is set to pick up later in the week, however, with traders likely to keep an eye on reports on retail sales, producer prices, industrial production, and housing starts.

Earnings season will also pick up steam in the coming days, with Citigroup (C), JP Morgan (JPM), Wells Fargo (WFC), Intel (INTC), American Express (AXP) Google (GOOG), General Electric (GE) and Morgan Stanley (MS) among the companies due to report their quarterly results.