2. -- The economic calendar in the U.S. Wednesday includes the ADP Employment Change index for July at 8:15 a.m. EDT, advanced gross domestic product for the second quarter at 8:30 a.m., Chicago PMI at 9:45 a.m., and the rate decision from the Federal Open Market Committee at 2 p.m.
3. -- U.S. stocks on Tuesday ended mixed as the Fed presidents began their two-day meeting. The S&P 500 rose 0.04% to 1,685.96 while the Dow Jones Industrial Average slipped 0.01% to 15,520.59. The Nasdaq added 0.48% to 3,616.47.
4. -- Cubist Pharmaceuticals (CBST) is making an aggressive move to expand its antibiotic business, by acquiring Optimer Pharmaceuticals (OPTR) and Trius Therapeutics (TSRX). The deals are valued at $801 million and $818 million, if certain milestones are reached, respectively. Cubist already markets the antibiotic Cubicin but once the two deals close the company will control Optimer's currently approved antibiotic Dificid as well as Trius' late-stage antibiotic candidate tedizolid.
5. -- Whole Foods Market (WFM - Get Report), the grocery chain, is expected by Wall Street on Wednesday to post fiscal third-quarter earnings of 37 cents a share on sales of $3.09 billion.
6. -- MasterCard (MA - Get Report), the credit card company, is forecast by Wall Street to report second-quarter earnings of $6.30 a share on revenue of $2 billion.
7. -- Cable giant Comcast (CMCSA - Get Report) is expected to post profit of 63 cents a share in the second quarter on revenue of $16.01 billion.