What to Watch Wednesday: Fed Statement, Facebook Earnings

On Wednesday, the Federal Reserve releases a policy statement, while Facebook unveils its latest quarterly earnings.
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On Wednesday, the Federal Reserve releases a policy statement, while Facebook (FB) - Get Report unveils its latest quarterly earnings. The Fed statement is released at 2 p.m. EST. Analysts don't expect the central bank to announce a rate hike, although the statement will be parsed for clues on the timing and frequency of 2017 rate increases. Meanwhile, after the markets close, Facebook is expected to report earnings of $1.31 a share on sales of $8.51 billion. During the same quarter a year ago, the social media giant posted earnings of $0.79 a share with revenue of $5.84 billion. Other earnings due Wednesday include Anthem (ANTM) - Get Report and MetLife (MET) - Get Report . As for economic data, the ADP Employment Report is released at 8:15 a.m., the ISM Manufacturing Index is out at 10 a.m., while the top automakers will be reporting January sales throughout the day.