US futures rebound after selloff

New York - S&P 500 index futures rose on Tuesday, rebounding after a steep selloff on Wall Street, but market sentiment was cautious as the Fed was set to begin its two-day policy meeting.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

The stock was set to open 7 percent lower after iPhone sales in the holiday shopping season missed lofty expectations and the company forecast weak revenue for the current quarter.

The stock had gained a quarter of its value in the last six months.

The stock rose 11 percent in premarket trade.

The Conference Board's consumer confidence index for January is due at 10:00 a.m. ET.

Dow Jones industrial average futures rose 58 points and Nasdaq 100 futures lost 12.75 points.

The slide gave the S&P 500 its worst weekly percentage loss since June 2012. - Reuters