The Energy Department's weekly inventory report is at 9:30 a.m. CDT Wednesday, followed by a Fed rate announcement at 1 p.m. Most expect the Fed to keep the federal funds rate target unchanged at 5.25% to 5.50%. Traders continue to keep close watch on South American weather.
Weather
A cold front that moved through the north on Tuesday continues farther south on Wednesday with colder temperatures settling across northern areas. That will continue some lake-effect snows in the Great Lakes and snow will start to develop in the Northern Plains as a system starts to move into the Pacific Northwest. An upper-level low in the Southwest will finally start to move eastward into the Southern Plains where some showers will be possible as well.