By Sara Sjolin, MarketWatch

Herbalife climbs more than 10% premarket

U.S. stocks were set to rebound on Wednesday, with futures nudging higher ahead of the ADP employment report, which will be closely watched for clues to Friday's key nonfarm-payrolls number.

Federal Reserve Chairwoman Janet Yellen was also in the spotlight ahead of a panel debate with the head of the International Monetary Fund, Christine Lagarde.

Futures for the Dow Jones Industrial Average (YMM5) rose 63 points, or 0.4%, to 17,925, while those for the S&P 500 index (ESM5) climbed 6.25 points, or 0.3%, to 2,090.25. Futures for the Nasdaq 100 index (NQM5) gained 4.25 points, or 0.1%, to 4,411.75.

The benchmarks closed sharply lower on Tuesday, with the S&P 500 (SPX) suffering its biggest one-day percentage decline (http://www.marketwatch.com/storyno-meta-for-guid) in six weeks. The selloff was partly fueled by a weak trade-deficit report, which showed the U.S. trade gap is at its widest in almost seven years.

Data: The ADP employment report is due at 8:15 a.m. Eastern Time. The consensus estimate calls for 193,000 jobs to have been added to private payrolls in April, according to FactSet, up from the 189,000 recorded in March.

The ADP figure is seen as a prelude to the nonfarm-payrolls data due on Friday and will either be "warming us up or getting us nervous", said analysts at Accendo Markets in a note. The Federal Reserve has said it's looking closely at the labor market when assessing the best timing for its first rate hike.

Also due Wednesday are first-quarter productivity and labor costs, scheduled for release at 8:30 a.m. Eastern Time.

Fed speakers: Yellen appears on the panel with Lagarde at the Institute for New Economic Thinking conference at 9:15 a.m. Eastern, in Washington, D.C.

Kansas City President Esther George appears on a panel on credit-market booms and busts at 1:15 p.m Eastern, at the same conference. George is not a voting member of the policy-setting committee this year.

Atlanta Fed President Dennis Lockhart will give a speech to the Baton Rouge Rotary Club in Baton Rouge, Louisiana at 1:30 p.m. Eastern.

Earnings: Reporting ahead of the bell, fast-food chain Wendy's Co.(WEN) is expected to post earnings of 95 cents a share in the first quarter, according to a consensus survey by FactSet. Also on the docket is SodaStream International Ltd.(SODA), which is projected to break even in the first quarter.

After the bell, Tesla Motors Inc.(TSLA) is expected to report, with investors eager to hear what the electric-car maker has planned (http://www.marketwatch.com/story/what-to-look-for-in-tesla-earnings-2015-05-05) for its new line of business -- home and commercial batteries.

Transocean Ltd.(RIG), Whole Foods Market Inc.(WFM) and Keurig Green Mountain Inc.(GMCR) are also on tap after the market closes.

Movers and shakers: Shares of Herbalife Ltd.(HLF) climbed 13% in thin premarket trade after the nutrition-supplement maker late Tuesday raised its outlook for the year (http://www.marketwatch.com/story/herbalife-raises-guidance-as-earnings-grow-48-2015-05-05-174852122) as earnings rose a stronger-than-expected 4.8% in the first quarter.

Fossil Group Inc.(FOSL) added 4.1% ahead of the bell. The clothing and accessories retailer late Tuesday posted better-than-expected earnings (http://www.marketwatch.com/story/fossil-earnings-top-views-despite-forex-headwinds-2015-05-05), as strength in the jewelry segment offset some of the negative effects of the strong dollar.

Groupon Inc.(GRPN) could also be active after the online deal company on Tuesday said its first-quarter loss narrowed (http://www.marketwatch.com/story/groupon-adjusted-profit-sales-in-line-with-views-2015-05-05) to $14.3 million, from a loss of $37.8 million a year earlier.

U.S.-listed shares of Anheuser-Busch InBev NV(AHBIY) picked up 3.2% in premarket action after the Belgian brewing company said a derivatives gain pushed up its net profit sharply (http://www.marketwatch.com/story/ab-inbev-profit-jumps-strong-dollar-weighs-2015-05-06) in the first quarter.

And the U.S.-listed shares of Nokia Corp.(NOK) picked up 3.3% after news that a consortium of German car makers are preparing to launch a formal bid to buy a majority stake in Nokia's Here mapping unit (http://www.marketwatch.com/story/german-car-makers-set-to-bid-for-nokia-map-service-2015-05-06).

Other markets:Asian markets (http://www.marketwatch.com/storyno-meta-for-guid) closed lower, while European stocks (http://www.marketwatch.com/storyno-meta-for-guid) were mostly higher.

Crude oil (CLM5) moved higher, approaching $62 a barrel (http://www.marketwatch.com/storyno-meta-for-guid), while metals dropped across the board. The dollar (DXY) was mostly lower against other major currencies.

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