The economic calendar in the U.S. Wednesday includes retail sales for October at 8:30 a.m. EST, the producer price index for October at 8:30 a.m., business inventories for September at 10 a.m., and the release of the minutes of the Oct. 23-24 policy meeting of the Federal Open Market Committee at 2 p.m.
U.S. stocks on Tuesday finished lower as investors piled out of the technology, energy and financial sectors in the final hour of trading. The Dow Jones Industrial Average lost nearly 59 points, or 0.46%, to settle at 12,756.
Cisco (CSCO - Get Report), the networking giant and Dow component, topped Wall Street's expectations in its latest quarter on both the top and bottom lines. Cisco reported non-GAAP earnings of $2.57 billion, or 48 cents a share, on revenue of $11.88 billion, up from a year-earlier equivalent profit of $2.32 billion, or 43 cents a share, on revenue of $11.27 billion.
AMD (AMD - Get Report) denied Tuesday that it's on the block following a report that the No. 2 chipmaker could be be up for sale.
Staples (SPLS - Get Report) is reporting its third-quarter results before the opening bell Wednesday, and analysts are expecting a profit of 45 cents a share in the October-ended period on revenue of $6.45 billion.
Earnings are also expected Wednesday from Abercrombie & Fitch (ANF), AGCO Corp. (AG), Bluegreen Corp. (BXG), DryShips (DRYS), FriendFinder Networks (FFN), Hot Topic (HOTT), Limited Brands (LTD), Millipore (MIL), NetApp (NTAP), New Frontier Media (NOOF), Petsmart (PETM), Retalix (RTLX), Spectrum Brands (SPB), Tyco International (TYC), and Williams-Sonoma (WSM).
Toyota (TM - Get Report) is recalling almost 2.8 million vehicles around the globe for a water pump problem and a steering shaft defect that may result in faulty steering.