Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.
ADP's private sector payrolls and international trade data are big for U.S. markets Wednesday, but the focus first will be on Europe.
Markets on Tuesday were dominated by Europe, even as U.S. car sales rocketed higher to an annualized selling rate of 17.7 million vehicles, the best level in 10 years. The dollar weakened as the euro gained on optimism Greece would come to a deal with creditors, and U.S. rates followed European yields higher. The U.S. 10-year was at 2.26 percent in late trading, while the German 10-year rose above 0.71, its highest yield of the year.
The European Central Bank holds a rate meeting Wednesday and should have an announcement at 7:45 a.m. ET, after which ECB President Mario Draghi speaks to the press. No change in rates is expected, but Draghi may comment on the progress of the the bank's quantitative easing program in his 8:30 a.m. comments. Traders though will also be watching for news on Greece's debt talks. |