What to Watch Wednesday: FOMC Minutes and Walgreens Earnings

On Wednesday, July 6, investors will get the minutes of the Federal Reserve's June meeting and quarterly earnings from retailer Walgreens Boots Alliance (WBA) - Get Report . At 2pm Eastern, the Fed releases a detailed account of what took place during the Fed's most recent two-day policy meeting, which wrapped up on June 15. The Fed kept interest rates unchanged and maintained its forecast of two rate hikes in 2016. Aside from the minutes, other important economic data released Wednesday includes the trade deficit for May and the ISM non-manufacturing index for June. Before the markets open, Walgreens reports earnings. Analysts expect profit of $1.14 a share on sales of $29.7 billion. During the same quarter last year, the company earned $1.02 a share with revenue of $28.8 billion. Investors will also be looking for updates on the company's pending acquisition of Rite Aid (RAD) - Get Report . TheStreet's Scott Gamm reports from Wall Street.