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Stocks could get drilled again by oil

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Why you might want to refinance

Even if minutes from the Fed's last meeting or ADP's private payroll data help stanch some of the selling in stocks Wednesday, analysts say the market should remain volatile, particularly if oil continues to melt down.

The ADP private sector payroll data is released at 8:15 a.m. ET and is expected to show 250,000 private sector jobs were created in December. Friday's government employment report for December is expected to show a total of 240,00 nonfarm payrolls and an unemployment rate of 5.7 percent.

At 2 p.m., the Fed releases minutes from the last FOMC meeting, and traders are watching to see if there's any clarification of what Fed Chair Janet Yellen meant when she said the Fed would not begin the normalization process of raising rates for at least a couple of meetings.