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Wednesday market focus will be on Apple and the Fed

Traders work on the floor of the New York Stock Exchange.
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Stocks could continue to shake off the recent round of weak data Wednesday, as Apple unveils its new iPhone 7 and two Fed officials are on the hot seat before Congress.

There are two economic reports the market is watching Wednesday. One is the 10 a.m. release of JOLTS, job opening and turnover data, and the other is the release of the Fed Beige Book on the economy at 2 p.m. EDT.

Markets are hungry for clues about the economy after surprising declines in both ISM manufacturing and nonmanufacturing surveys. The two reports fell on each side of Friday's disappointing August payrolls, which at 150,000 were about 30,000 less than expected. ISM manufacturing showed contraction in that sector, and the services sector was at its lowest level since early 2010.