Stock futures point to Wall St rebounding

* U.S. stocks fell for a sixth straight session on Wednesday, as a coordinated worldwide cut in interest rates failed to alleviate fears about a global recession.

* Short-selling will resume, with the SEC-imposed ban now expired.

* U.S. Treasury Secretary Henry Paulson said on Wednesday a recently approved financial bailout bill gives him wide authority to inject capital into the banking system and would not rule out the Treasury taking an ownership position in banks if necessary.

* Oil giant Chevron is expected to report third-quarter earnings per share rising to $3.24, from $1.94 a year earlier. Although oil prices have been falling since July, they were still substantially higher in the period than they were a year earlier.

* Shares of IBM in Frankfurt rose 5 percent, with the U.S. shares having risen 2.7 percent to $93 in extended trade on Wednesday after the computer company announced preliminary results.

* Payment processor TSYS set to report earnings slipping to 34 cents a share, from 35 cents a share.

* Weekly jobless claims data due, with initial claims forecast to fall to 478,000, from 497,000.

* Wholesale inventories are forecast to have risen 0.5 percent in August, compared with a rise of 1.4 percent in July.

(Reporting by Brian Gorman, editing by Will Waterman)