07:23 AM EDT, 08/07/2024 (MT Newswires) -- US benchmark equity indexes were pointing higher before the bell Wednesday as traders regain their footing following a selloff on Monday amid growing recession fears and prepare for more corporate earnings.

Standard & Poor's 500 increased 1.1%, the Dow Jones Industrial Average added 0.8% and the Nasdaq rose 1.3% in premarket activity. Asian and European exchanges were tracking in the green.

Shares of Super Micro Computer ( SMCI ) dropped 15% pre-bell after the company's fiscal fourth-quarter earnings missed market estimates. Airbnb ( ABNB ) fell 16% as the vacation rental company's second-quarter earnings declined more than expected.

Novo Nordisk's ( NVO ) Nasdaq-listed shares were down 2.9% as the Danish drugmaker reported lower-than-expected second-quarter results. Amgen ( AMGN ) decreased 4.6% as the biopharmaceutical firm tightened its full-year earnings outlook.

Walt Disney ( DIS ) , CVS Health ( CVS ) , Shopify ( SHOP ) , Emerson Electric ( EMR ) , Hilton Worldwide ( HLT ) , Rockwell Automation ( ROK ) , Global Payments ( GPN ) , Warner Music Group ( WMG ) , Dynatrace ( DT ) , Ralph Lauren ( RL ) and Lyft ( LYFT ) release their quarterly results early Wednesday, among others. McKesson (MCK), Monster Beverage ( MNST ) and Warner Bros. Discovery ( WBD ) post earnings after the markets close.

On the economic calendar, the weekly mortgage applications bulletin is out at 7 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am. The Federal Reserve's consumer credit bulletin for June is due at 3 pm.

Before the opening bell, bitcoin gained 1.4% to $57,540, West Texas Intermediate crude oil inclined 1.5% to $74.32 a barrel, yields on 10-year Treasuries advanced 4.2 basis points to 3.93% and gold nudged 0.2% higher to $2,436 an ounce.