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With a slew of data expected, all eyes on the taper clock

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ADP's private sector payrolls report will be watched Wednesday as the warm-up act for Friday's important government jobs report.

ADP kicks off what is a heavy calendar of data, which could add to volatility Wednesday. There are 173,000 private sector jobs expected, up from ADP's report of 130,000 for October.

Stocks sold off Tuesday, with the Dow and S&P 500 lower for a third session, amid speculation that stronger data will encourage the Fed to pare back its bond-buying program sooner than expected. The Dow was off 94, at 15,914, and the S&P 500 was down 5, at 1,795. The 10-year Treasury was at 2.78 percent in afternoon trading, off its earlier highs.

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