Futures Point Higher Following Wall Street Selloff

Updated from 6:52 a.m. EST

Premarket futures were forecasting a higher open for stocks in the U.S. Tuesday, following a massive selloff in the previous session, during which each of the three major averages lost at least 7.7%.

Futures for the S&P 500 were up 16 points at 832, and were 16 points above fair value. Nasdaq futures were adding 17 points at 1111 and were 20 points ahead of fair value.

During the previous outing, stocks sold off sharply as the National Bureau of Economic Research declared the U.S. had been in a recession for nearly a year. The first session of the month also was occasion for profit-taking following a five-day rally that capped off November. ...