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Briefing.com Summary:

*Equity futures indicate sharply higher start after Tuesday's late reversal

*Strong early leadership from mega cap names

*Senate to vote on funding select agencies

Equity futures point to a firmly higher open this morning after yesterday's action saw the major averages shed the bulk of their hefty early losses, ultimately finishing mixed.

The turnaround was broad-based, though tech and certain mega-cap stocks still lagged and limited growth at the index level. Several of those same names, including NVIDIA (NVDA 184.90, +4.87, +2.71%) and Tesla (TSLA 434.49, +5.25, +1.22%), are up nicely in the pre-market today.

The financials sector was a standout yesterday as a slate of major banking names beat earnings expectations. The market is currently receiving another sizable batch of earnings reports.

Trade concerns with China still linger after President Trump threatened retaliation for China's soybean boycott yesterday afternoon.

In Washington, Politico reports that Senate Republicans will hold votes on three bills that fund various government agencies as the shutdown persists.

The market heard from several FOMC officials yesterday, which kept rate cut expectations elevated for both the October and December FOMC meetings. The Fed's Beige Book is set for release at 2:00 p.m. ET.

The MBA Mortgage Applications Index for the week ended October 11 decreased 1.8% from a prior decrease of 4.7% while the Empire State Manufacturing survey rose to 10.7 in October (Briefing.com consensus -1.8) from -8.7 in September.