stocks ready to recover

Stocks ready to recover
Futures point to higher open after flight to quality sheds 280 points off blue-chip Dow; global markets hit.
August 29 2007: 6:57 AM EDT

LONDON (CNNMoney.com) -- U.S. stock futures were stronger Wednesday morning as investors regained their poise after the past session's flight to quality.

At 6:36 a.m. ET, Nasdaq and S&P futures were higher, with a comparison to fair value pointing to a positive start for Wall Street.
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Investors fled stocks in favor of safe-haven Treasury bonds on Tuesday as fresh concerns about the health of the U.S. economy hit markets. Another weak housing report, coupled with a big drop in consumer confidence, sparked a 280 point-drop on the Dow Jones industrial average.
Fed: Don't panic. We're here

Minutes from the Federal Reserve's last meeting also contributed to jitters, as they showed policymakers were concerned the turmoil in financial markets could hurt economic growth. (Read the Fed minutes)

After the heavy selling, stocks may be ready for a rebound, although investors continued to load up on bonds. Treasury prices edged higher, lowering the yield on the benchmark 10-year note to 4.51 percent from 4.52 percent late Tuesday.

Investors will get a break from the deluge of economic data, with the government's weekly report on crude inventories the only major release on tap.