U.S. Equity Futures Follow Asia, Europe's Lead Higher

U.S. equity futures were trading in positive territory ahead of Wednesday's opening bell, as investors and traders were likely taking cues from Asia's trading session.

Major Asian equity indices closed noticeably higher following China's announcement that its dollar-denominated exports for March rose 11.5 percent year-over-year, exceeding the 2.5 percent increase many economists were expecting.

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The Hang Seng index closed higher by more than 3 percent during its Wednesday trading session. The Nikkei index gained 2.84 percent, while both the Shanghai index and Taiwan's TSEC index gained 1.42 percent.

Australia's ASX index gained more than 1.50 percent.

European stocks were also higher in mid-session on Wednesday, as the Euro Stoxx 50 index was higher by 2.66 percent.

France's CAC index and Germany's DAX index led the charge and were higher by 2.51 percent and 2.26 percent, respectively. The UK's FTSE index was also higher by 1.41 percent.

Gold futures were trading lower by nearly 1.50 percent early Wednesday morning, while the price of oil dipped 1.30 percent but remained above the $40 per barrel mark.