What to Watch Wednesday: Federal Reserve Statement, Yellen Press Conference

On Wednesday, June 15, investors await the Federal Reserve's June statement and a key press conference by Chair Janet Yellen. While most market participants don't expect the Fed to announce a rate hike, investors will scrutinize the central bank's messaging and forecasts for how many rate increases may come in the remainder of 2016. Aside from the Fed, the producer price index and industrial production data for May will be released. The EIA Petroleum Status report for the week of June 10 will also be unveiled. TheStreet's Scott Gamm reports from Wall Street.