Stocks poised for higher open despite economy contracting more than expected

U.S. stock markets are poised to a higher open Wednesday as investors await first-quarter gross domestic product, a policy statement from the Federal Reserve and more corporate earnings.

Generally, investors hope GDP would show the economy's free fall has stabilized, but don't expect much action from the Fed. Banks will remain in focus as more information about the stress test is revealed.

More here: Before the bell: Futures higher ahead of GDP, Fed policy statement