Economists don't expect the central bank to make a change to interest rates -- leaving the federal funds rate at 1% to 1.25% -- though investors will comb through the Fed statement to discern when the central bank could begin to unwind its balance sheet. Most Fed watchers anticipate that process to begin at the Fed's meeting in September at the earliest.
"There's getting close to zero chance of the Fed raising rates before December," Mike Piershale, president of Piershale Financial Group, told TheStreet.
Coca-Cola (KO) reported second-quarter adjusted earnings of 59 cents a share, 2 cents above estimates. Revenue fell 16% to $9.70 billion but still topped forecasts. The stock rose 1.5%.
Earnings reports are also expected Wednesday from Boeing Co. (BA) , Facebook Inc. (FB) , Whole Foods Market Inc. (WFM) , Hershey Co. (HSY) , Barrick Gold Corp. (ABX) , Gilead Sciences Inc. (GILD) , Vertex Pharmaceuticals Inc. (VRTX) and GlaxoSmithKline PLC (GSK) .
Trump said the Taiwanese manufacturer plans to build a big plant in the U.S. and is strongly considering putting it in Wisconsin. But Foxconn told CNNMoney on Wednesday that "it is not currently possible to confirm the locations for those potential investments or estimate the number of jobs that might be created."
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After the closing bell on Tuesday, AMD reported second-quarter revenue of $1.22 billion (up 19% annually) and adjusted earnings per share of 2 cents, beating analysts' estimates of $1.16 billion and break-even profit.
AMD said computing and graphics revenues jumped 51% from a year earlier.
The company also guided for a sequential increase in third-quarter revenue of 23%.