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By Bloomberg

U.S. stock futures rose, indicating the Standard & Poor's 500 Index will rebound from its worst three-day drop since 2011, amid speculation the recent selloff was overdone and as earnings from Citigroup Inc. to Johnson & Johnson topped forecasts.

Johnson & Johnson rose 1.4 percent after third-quarter results beat estimates and the company raised its full-year projections. Citigroup gained 2.2 percent as bond-trading revenue climbed and lending improved.

Futures on the S&P 500 expiring in December added 0.6 percent to 1,876.40 at 8:21 a.m. in New York. Dow Jones Industrial Average contracts rose 71 points, or 0.4 percent, to 16,303 today.

"The market will rebound because it has been a pretty fierce sell-off and investors reached an extreme risk aversion," said Thomas Thygesen, head of cross-asset strategy at Skandinaviska Enskilda Banken AB in Copenhagen. "You can't keep that selling momentum forever. Concerns that slower global growth would affect the U.S. have been overdone. We know the Fed will only adjust interest rates once the time is right, and they have reassured markets."

U.S. equities have lost almost $744 billion in value since Oct. 8 amid concern that slower global growth could hurt America's economic recovery just as the Federal Reserve gauges when to raise interest rates.

Data from Europe today showed consumer prices in Sweden and Spain fell, U.K. inflation slowed to a five-year low, and a measure of German investor confidence decreased for a 10th month. The German government cut its economic forecast for this year and for 2015.

Ebola, Oil

Yesterday's selloff accelerated as airlines sank on Ebola concerns and energy shares plunged after Brent crude dropped to the lowest in almost four years.

The S&P 500 has fallen 6.8 percent from its Sept. 18 record, paring its gains this year to 1.4 percent. The index fell to its lowest level since May yesterday, below its 200-day average for the first time in two years. The Chicago Board Options Exchange Volatility Index, the gauge known as the VIX, rose 16 percent to its highest level since June 2012. The measure has soared 63 percent in the past three days.

Investors are watching earnings reports today after Alcoa Inc. unofficially kicked off the U.S. results season last week. Some 53 S&P 500 companies are scheduled to release earnings this week, according to data compiled by Bloomberg. Profit for members of the index probably rose 4.8 percent in the third quarter and sales gained 4.2 percent, analysts projected.

Chipmaker Intel Corp. reports after the close.

Citigroup, JNJ

Johnson & Johnson, the world's biggest maker of consumer health products, advanced 1.4 percent to $100.50 as third- quarter profit soared on the sale of its Ortho Clinical Diagnostics unit. The company forecast full-year earnings of $5.92 to $5.97 a share, above its earlier projection for $5.85 to $5.92 a share.

Citigroup climbed 2.2 percent to $51.01. The third-biggest U.S. bank said profit rose 6.6 percent, topping estimates as bond-trading revenue climbed and lending improved. The firm also announced plans to exit consumer banking in 11 markets.

JPMorgan Chase & Co. dropped 0.7 percent to $57.75. The biggest U.S. bank, swung to a third-quarter profit from a year earlier as a surprise gain in fixed-income trading helped boost revenue and legal costs narrowed.

Net income was $1.36 a share, compared with a loss of $380 million, or 17 cents, a year earlier on legal and regulatory costs, according to a statement. Analysts on average had forecast EPS of $1.39.