US STOCKS-Futures point to rebound for Wall St after selloff
* Central bank policy to remain in focus
* Yum Brands reports drop in sales in China
* Futures up: Dow 42 pts, S&P 9.2 pts, Nasdaq 13.25 pts
NEW YORK, June 12 (Reuters) - U.S. stock index futures rose on Wednesday, pointing to a rebound for Wall Street after a selloff in the previous session, though gains may be tempered by investor wariness over how soon central banks will begin to scale back accommodative policies.
* The benchmark S&P 500 fell 1 percent on Tuesday in volatile trading after Japan's central bank disappointed markets by holding its monetary policy steady.
* The lack of further action kindled unease over when the ultra-loose policy put in place by global central banks will be wound down, particularly by the Federal Reserve. The uncertainty prompted investors to unwind trades built around such support.
* Markets regained some footing on Wednesday, with Treasuries prices edging up, the dollar recovering and European shares rising.
* S&P 500 futures rose 9.2 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 42 points, and Nasdaq 100 futures added 13.25 points.
* KFC parent Yum Brands Inc may be in focus after reporting late Tuesday a drop in May sales at established restaurants in China.
* U.S. officials will give major banks two years to comply with a controversial Dodd-Frank requirement that they push some swaps trading out of the banks. Shares of Citigroup were up 1.1 percent in premarket trading.
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