NEW YORK (TheStreet) -- Stock futures were seeing a small bounce on Wednesday morning after the Dow Jones Industrial Average suffered triple-digit losses a day earlier.

Focus turned from U.S. economic data on Tuesday to key corporate earnings from Tiffany (TIF) and Costco (COST) on Wednesday. 

S&P 500 futures were up 0.15%, Dow futures rose 0.16%, and Nasdaq futures gained 0.17%. 

Markets finished in the red on Tuesday as signs of economic recovery from the housing sector and durable goods numbers exacerbated fears the Federal Reserve would hike rates sooner than expected. Click here for more.

Tiffany shares spiked more than 7% in premarket trading on Wednesday after the jeweler earned 81 cents a share in its first quarter, down from 97 cents a year earlier though better than an expected 70 cents. Click here for more.

Michael Kors (KORS) tumbled 12% after issuing light guidance for its first quarter. The luxury accessories brand expects to earn quarterly revenue of $930 million to $950 million, below an expected $1.09 billion. 

Toll Brothers (TOL) was down more than 1% after posting a mixed quarter. The homebuilder posted net income of 37 cents a share, 2 cents higher than expected, while revenue slipped 0.9% to $852.6 million and missed estimates. 

Hormel Foods (HRL) jumped 4% after acquiring organic brand Applegate for $775 million. The deal is expected to contribute 7 cents to 8 cents in earnings per share by 2016. 

Shares of tobacco companies Reynolds (RAI) and Lorrillard (LO) were on watch after a planned acquisition was approved by the Federal Trade Commission. Reynolds must first sell its Winston, Kool, Salem and Maverick brands in order to purchase Lorrillard. 

Warehouse retailer Costco will report quarterly earnings after the closing bell.

European markets moved higher after German consumer confidence hit a 14-year high. The forward-looking GfK German Consumer Climate survey inched up to 10.2 for June from 10.1 points in May, reaching its strongest level since 2001. Click here for more.

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