By Sara Sjolin, MarketWatch

U.S. stocks look set for their first gain in three days on Wednesday, recovering from wobbles in the bond markets, as investors look ahead to retail data that could further weaken the case for a summer Federal Reserve rate hike.

Futures for the Dow Jones Industrial Average (YMM5) climbed 62 points, or 0.4%, to 18,091, while those for the S&P 500 index (ESM5) gained 8.25 points, or 0.4%, to 2,103.25. Futures for the Nasdaq 100 index (NQM5) added 21.50 points, or 0.5%, to 4,442.25.

On Tuesday, fluctuations in the bond market (http://www.marketwatch.com/story/treasurys-rebound-from-early-rout-2015-05-12) sent markets lower (http://www.marketwatch.com/story/us-stocks-pare-losses-as-bonds-regain-poise-2015-05-12) in Europe and the U.S. However, bond markets appeared to have calmed down on Wednesday, with yields moving in tight ranges early in the day.

Data: Monthly retail sales data is due at 8:30 a.m. Eastern Time, expected to show growth of 0.1% in April, down from 0.9% in March.

Such a slowdown would further underline the "general cooling of economic data that has been coming out of America, and partially [explain] why currency markets have generically pushed the date for interest rate rises out to September," said Alastair McCaig, market analyst at IG in a note.

Excluding auto sales, retail numbers are forecast to come in at 0.4%, the same pace of growth as seen in March.

Also due at 8:30 a.m. Eastern Time is the import-price index for April. A report on March business inventories follows at 10 a.m. Eastern.

There are no Federal Reserve speakers scheduled for Wednesday.

Earnings: Department-store chain Macy's Inc.(M) is forecast to report earnings of 62 cents a share for the first quarter, according to FactSet estimates. It reports ahead of the bell.

Retailer Ralph Lauren Corp.(RL) is expected to report fiscal fourth-quarter earnings of $1.32 a share.

After the market closes, Shake Shack Inc (http://www.marketwatch.com/story/what-to-look-for-in-shake-shack-earnings-2015-05-12).(SHAK), Cisco Systems Inc.(CSCO) and J.C. Penney Co.(JCP) are slated to report.

Other markets: European markets moved firmly higher (http://www.marketwatch.com/storyno-meta-for-guid), also recovering from a bond-market-inspired slump on Tuesday. Additionally, fresh growth numbers for the region showed the region's economy is picking up (http://www.marketwatch.com/story/eurozone-gdp-picks-up-boosted-by-france-italy-2015-05-13), with France and Italy returning to expansion. Asian markets closed mixed.

The dollar moved slightly lower against most other currencies, while oil (http://www.marketwatch.com/storyno-meta-for-guid) and most metals advanced.

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