Stock futures are indicating a higher start on Wall Street today as the markets try to recover from a sharp decline yesterday caused by earnings jitters and more subprime credit concerns. A strong showing from Amazon.com after the close yesterday is helping give a push to the markets.

Yesterday was one of the worse days this year. In fact, it was the worst day in four months for the Dow Jones industrial average with its 226 points decline. Mixed earnings as well as growing concerns about bad credit hit the markets.

Today there is finally some economic data points due for release investors could digest in addition to earnings.
At 10:00 a.m., the National Association of Realtors reports June existing home sales, which according to Breifing.com is expected to have fallen to 5.9 million from 5.99 million the month before.
At 10:30 a.m., weekly crude inventories are due. Oil prices fell ahead of the report which is expected to show an increase in refinery utilization.

Overseas, Asian markets tended to follow the U.S.'s and mostly finished lower, although Shanghai shares performed strongly. European stocks are falling for a second day.

Earnings:

Amazon.com, Inc. (NASDAQ: AMZN) shares soared some 20% after the company reported strong quarterly financial results. Amazon's profit tripled as the company beat estimates and raised its outlook for the full year. Amazon has been upgraded by at least five firms, according to my latest count. So far in premarket trading, AMZN shares are up over 25% (7:16 a.m.).

Another wave of earnings is expected today including ConocoPhillips, Boeing and Apple. According to Thomson Financila, ConocoPhillips (NYSE: COP) is expected to report earnings of $2.66 per share, Boeing (NYSE: BA) $1.16 per share, and Apple Inc. (NASDAQ: AAPL) 72 cents per share.

Apple, which has been pounded yesterday, closing down over 6%, on concerns iPhone sales weren't what the Street had expected, is recovering somewhat this morning, up over 1% in premarket trading.