U.S. Stocks To Set For Rebound With Help From Tech

NEW YORK (MarketWatch) -- Wall Street on Tuesday looked for an opening bounce back from the previous day's lower close, as investors attempted to move their focus beyond the credit-related troubles dogging financial stocks.

"Not withstanding the soaring gold and oil prices, the market is headed for a technical rebound with Mr. [Federal Reserve Chairman Ben] Bermanke's address in San Antonio under scrutiny," said Peter Cardillo, chief market economist at Avalon Partners.

Futures for the Dow Jones Industrial Average gained 45 points to 13,600.

Those the S&P 500 gained 6.60 points to 1,512.00, while Nasdaq 100 futures rose 10.75 points to 2,223.50.

With little to on the economic docket, the market will look to Bernanke's scheduled speech before a microfinance summit in Texas.

The technology sector is also likely to be in focus after shares of Alibaba.com almost tripled in their Hong Kong debut, marking a successful start for the world's largest initial public offering by an e-commerce company since Google Inc.

Yahoo! Inc. holds a roughly 40% stake in Alibaba.com

Beazer Homes USA Inc. is likely to see pressure in the wake of the home builder's decision to end dividend payments and cut 650 jobs, citing plunging orders.

Crude-oil futures gained $2.08 to $96.06 a barrel, a day ahead of weekly inventory data, while gold futures gained $13.30 to $324.10.

In Europe, stocks snapped a three-session losing streak as investors bought into the hard-hit resource sector. Earnings from Marks & Spencer and Swiss Re were also cheered. .

Elsewhere overseas, Asian markets ended mixed after a volatile session after posting sharp losses in the previous two sessions. .

By Kate Gibson