S&P 500 futures up 0.1%

European indices have halved losses from earlier in the day but are still keeping roughly 1% lower across the board. This comes as US futures start to turn things around, with Nasdaq futures leading the bounce while S&P 500 futures inch a tad higher.

Dow futures are still lagging behind, seen down 0.3% but at least things are looking a little brighter than they were a few hours ago here.

All eyes will be on US PPI data and jobless claims later to see if that will generate any more buzz on the inflation debate in the market - especially the former.