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The
Fed raised rates for the first time last year, citing strength
in the labor market and a slight uptick in inflation. Investors
will be keen to assess policymakers' view on inflation,
especially after a spate of strong economic data.
The minutes of the Dec. 13-14 meeting are expected at 2:00 p.m.
ET.
With just over two weeks left before President-elect Donald
Trump takes office, investors are waiting for the finer details
of his proposed policies such as tax cuts and higher fiscal
spending.
Major automakers will release U.S. sales data for 2016 on
Wednesday. Encouraging data could push the Dow Jones Industrial
Average <.DJI> to the elusive 20,000 mark.
The Dow came within an arm's distance of the milestone several
times in the past few weeks and closed at 19,881.76 on Tuesday.
Wall Street ended the first trading of the new year with sharp
gains as increases in technology stocks helped offset a decline
in oil prices.
Oil, which hit an 18-month high on Tuesday before reversing
course due to a strong dollar, was up marginally at $55.67 on
Wednesday.
The dollar fell to profit-taking and was down 0.20 percent, a
day after its index <.DXY> rose to a 14-year high.
Tesla <TSLA.O> shares fell 1.9 percent to $212.88 in premarket
trading after the electric carmaker reported a 9.4 percent
decline in quarterly deliveries.
Depomed <DEPO.O> soared 12.5 percent to $22.89 after the NY Post
reported that KKR & Co was still interested in buying the
drugmaker.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Saumyadeb Chakrabarty)
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