Corrected to note that employment date from ADP will be released on Thursday.
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Here are five things you must know for Wednesday, Jan. 4:
1. -- U.S. stock futures posted slight gains Wednesday ahead of the minutes from December's meeting of the Federal Reserve, when the central bank raised interest rates for only the second time in a decade.
The economic calendar in the U.S. on Wednesday includes the minutes of the Federal Open Market Committee's meeting on Dec. 14. The minutes will be released at 2 p.m. EST.
Oil for February delivery rose 0.36% early Wednesday to $52.52 a barrel. West Texas Intermediate crude settled 2.6% lower at $52.33 a barrel on Tuesday, its lowest level in more than two weeks.
European stocks traded lower Wednesday while Asian stocks finished the session mostly higher. Japan's Nikkei 225 gained 2.5% in its first trading day of 2017.
Earnings are expected Wednesday from Sonic (SONC) .
The oil and gas giant late Tuesday outlined measures to be taken if the U.S. Senate confirms President-elect Donald Trump's nomination of Tillerson, 64, to head the State Department. Under the agreement, the value of the more than 2 million Exxon shares Tillerson would have received over the course of 10 years upon retirement will be transferred to an independently managed trust prohibited from investing in the Irving, Texas-based company. Exxon has a market cap of $376.5 billion.
Tillerson also will surrender more than $4.1 million in cash bonuses scheduled for payout over the next three years as well as other benefits, including those related to retirement. Exxon has a mandatory retirement age of 65, which Tillerson reaches on March 23.
In total, Tillerson will see his compensation reduced by about $7 million if he becomes secretary of state. According to The Wall Street Journal'scalculations, his retirement package will still be worth about $180 million.
The stock was down 1.9% in premarket trading on Wednesday.
The automaker delivered 12,700 Model S and 9,500 Model X sedans during the fourth quarter. It said it also had about 6,450 vehicles in transit to customers at the end of the quarter, which will count as first-quarter 2017 deliveries.
"Because of short-term production challenges starting at the end of October and lasting through early December," production was weighted towards late in the quarter, Tesla said. The company said that the delay stemmed from its transition to new Autopilot hardware.
Last February, Tesla provided guidance for deliveries of 80,000 to 90,000 vehicles in 2016, before later lowering the guidance to 79,000 deliveries. Tesla delivered 24,500 vehicles in the third quarter.
Analysts expect car sales to have risen in 2016 for the seventh straight year, topping the record 17.5 million cars and trucks sold in 2015, but hint that sales could decline in 2017.
"I don't want to say the party is over, but we've been on an historic run, and all good things must come to an end," Tim Fleming, an analyst with Kelley Blue Book, told CNNMoney. "We're not expecting sales to fall off a cliff, but we are looking for a return to more natural demand."
5. -- Wall Street lawyer Jay Clayton is a leading candidate to head the Securities and Exchange Commission in the Trump administration, two sources familiar with the matter told Reuters.
Clayton is a partner at Sullivan & Cromwell who specializes in public and private mergers and offerings.
Clayton met with President-elect Donald Trump on Dec. 22 and appears to have overtaken a former U.S. attorney, Debra Wong Yang, whose name had been floated as a top candidate in early December, according to Reuters.