Futures Pointing To Sharply Higher Open On Wall Street

(RTTNews) - After coming under pressure late in the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a sharply higher open for the markets, with the S&P 500 futures up by 1.3 percent. Traders may once again look to pick up stocks at reduced levels after bargain hunting contributed to early strength on Wednesday before the late-day pullback. The downturn seen during yesterday's trading dragged the Dow down to a three-month closing low, while the S&P 500 hit its lowest closing level in well over a month. Stocks may also benefit from an extended pullback by the price of crude oil, as U.S. crude oil futures tumble by 2.5 percent and drop below $100 a barrel. U.