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*
Brent crude oil prices inched towards $50 a barrel after data
showed a decline in U.S. stockpiles last week. [O/R] Copper
bounced from near four-week lows on Tuesday as short sellers
took profits.
* Concerns about China's economic health remained after data
showed factory activity in the world's second-biggest economy
shrank to a 6-1/2 year low in September. China's factory
activity has now shrunk for seven months in a row.
* European shares were higher after a surprise bounce in French
business activity boosted investor sentiment.
* U.S. stocks closed lower on Tuesday amid a steep selloff in
commodity prices and continuing investor uncertainty over when
the Federal Reserve will raise interest rates.
* The Fed's decision last week to hold interest rates steady at
near-zero levels has increased the uncertainty in the markets
already reeling from concerns regarding slowing global growth.
* Data scheduled to be released on Wednesday includes Markit's
U.S. manufacturing PMI data for September at 9:45 a.m. ET (1345
GMT). The data is expected to show U.S. factory data remained
steady at 53.0 compared with August.
* Shares of Citrix Systems, were up 4.7 percent at $75.55 in
premarket trading, after Reuters reported the cloud computing
company is attempting to sell itself.
Futures snapshot at 7:11 a.m. ET:
* S&P 500 e-minis were up 9 points, or 0.47 percent, with
239,599 contracts traded.
* Nasdaq 100 e-minis were up 23.75 points, or 0.56 percent, on
volume of 43,419 contracts.
* Dow e-minis were up 86 points, or 0.53 percent, with 37,514
contracts changing hands.
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Savio
D'Souza)
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