The year-end winddown is a little bit more exciting than usual.
Oil has been the wild card for months, and it looks like it could keep a choke hold on stocks and bonds into the final hours. Despite Tuesday's gains, crude could whip up low-volume markets Wednesday, after a late-day report Tuesday from the American Petroleum Institute set oil up for more losses.
The API data showed an inventory build of 2.9 million barrels, compared to analysts' expectations for a decline. The U.S. government releases its inventory data at 10:30 a.m. ET, and it is expected to report about a 1 million barrel decline in oil inventories. West Texas Intermediate futures fell by about 1.4 percent in late electronic trading, after the API report.