Atlanta Fed President Dennis Lockhart also makes comments at the Fed conference at 11:30 a.m., and separately, Dallas Fed President Richard Fisher speaks on the regional economic outlook in Austin, Texas at 1:25 p.m.
Earnings could also be a force for stocks in the morning, with Bank of America reporting ahead of the bell. Credit Suisse, Abbott Labs, US Bancorp, St. Jude Medical and PNC Financial also report. After the closing bell, Google, IBM, American Express, Capital One, Kansas City Southern and Noble report.
Intel's after hours earnings report Tuesday could be a catalyst for tech Wednesday. Intel earnings fell 4.8 percent, as a result of the decline in PCs. But its stock rose 0.9 percent in afterhours trading after it gave a fairly upbeat forecast, showed margin improvement and growth in new businesses, like the Internet of Things, a term encompassing wearable device products.
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Markets were highly volatile Tuesday, with stocks swinging between gains, losses and ending with gains. The 10-year yield dipped below the key 2.60 percent level Tuesday afternoon while stocks sold off. It recovered as the stock market reversed declines in afternoon trading. But traders are watching for another dip below 2.60 percent, the bottom of a trading range it has been in since January.
A lower yield would be a signal of a flight-to-safety trade, possibly as a result of uncertainty about the Ukraine, or it could be concerns about the strength of the economy. Traders say regardless of what moves it, if it does seriously breach 2.60, stocks and the dollar will fall. The 10-year was at 2.63 percent late Tuesday.
The Nasdaq, down nearly 2 percent at one point, was 0.3 percent away from a 10 percent correction from its March 6 high. The Nasdaq was whipped by momentum stocks and ended the day up 11 at 4034. The S&P 500 was up 12 at 1842. http://www.cnbc.com/id/101585442
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Traders are also watching the IPO market as an important measure for confidence. A number of IPOs were set to begin trading Wednesday, including Moelis, which downsized its offering and priced below its range. Several others are set to price Wednesday including the Chinese Twitter-like platform Weibo, Leju Holdings, Sabre, Sportsman's Warehouse, and Vital Therapies.
—By CNBC's Patti Domm. Follow her on Twitter