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ADP jobs data and the Fed could push Wall Street off the fence

IN THE NEWS TODAY

U.S. stock futures were relatively flat this morning after Tuesday's late rally pushed the Dow, S&P 500, and Nasdaq in the green for the day. All three measures were able to avoid three-session losing streaks. But the Dow chalked up just its fourth gain in 17 trading days. (CNBC)

JAB, the owner of Caribou Coffee (CBOU) and Peet's Coffee & Tea (PEET), has agreed to buy Panera Bread (PNRA) in a deal valued at about $7.5 billion, including the assumption of debt. Panera shares were surging premarket trading. (Reuters)

Ahead of Friday's government jobs report, ADP releases at 8:15 a.m. ET private payrolls for last month. The ISM's nonmanufacturing index is out at 10 a.m. ET. The Fed at 2 p.m. ET issues minutes from its meeting in March when policymakers hike interest rates. (CNBC)

Richmond Fed President Jeffrey Lacker announced his immediate resignation on Tuesday, admitting he discussed sensitive information with an analyst regarding the Fed's plans for economic stimulus. (CNBC)

President Donald Trump meets with Jordan's King Abdullah II at the White House today, after meeting with Egypt's president on Monday. Trump hosts Chinese President Xi Jinping at Mar-a-Lago tomorrow. (USA Today)

North Korea fired a ballistic missile today, the latest provocation ahead of Trump's meeting with Xi. Trump is expected to lean on the Chinese leader to help deal with Pyongyang's arms program. (Reuters)

Trump condemned a deadly suspected chemical attack in Syria, pinning the massacre on Syria's president. Russia said the gas leaked from a rebel weapons depot after Syrian government airstrikes. The U.N. Security Council called an emergency meeting for today.

The terror group ISIS in new audio released called President Trump an Arabic term that means "idiot" and said he doesn't know anything about Islam, according to various translations. (NBC News)

Former National Security Adviser Susan Rice has flatly denied that she sought to improperly "unmask" Trump campaign officials whose conversations were caught on surveillance by U.S. intelligence services. (NBC News)

Senate Majority Leader Mitch McConnell insisted Supreme Court nominee Neil Gorsuch will be confirmed this week despite Democratic efforts to block him. McConnell said Republicans have the votes to change the rules if Democrats filibuster. (NBC News)

As GOP leaders scramble to salvage their health-care plan, a new Kaiser Family Foundation poll shows a whopping 75 percent of Americans, including a majority of Republicans surveyed, want the White House to make Obamacare work. (CNBC)

In a management shakeup, McDonald's (MCD) is replacing its U.S. marketing chief, U.S. menu chief, and head of its U.S. digital unit. CEO Steve Easterbrook is in the midst of a turnaround plan. (Reuters)

Amazon (AMZN) signed a $50 million deal to stream the National Football League's Thursday night games for this coming season. That's five times what Twitter (TWTR) paid for the rights last season. (Recode)

BY THE NUMBERS

After coming off the gates strong in 2017, U.S. employers hired fewer people in March, but year-over-year hiring remained strong, according to the latest LinkedIn Workforce Report.

The steep drop in refinancing activity since interest rates spiked following the presidential election continues to pressure overall volume. Last week, the annual drop came in at just under 15 percent.

Retailer Bed Bath & Beyond (BBBY) and restaurant operator Yum China (YUMC) issue earnings after this afternoon's closing bell.

Walgreens Boots Alliance (WBA) chain matched estimates with adjusted quarterly profit of $1.36 per share, but revenue was below forecasts. The drug store chain also authorized a $1 billion share repurchase program.

STOCKS TO WATCH

Wells Fargo (WFC) has overhauled its credit-card processing business after an internal probe found some employees falsely reported customer sales and pushed small firms into costly contracts they didn't understand, according to the Wall Street Journal.

The U.S. unit of Credit Suisse (CS) and a former investment adviser agreed with the SEC to pay about $8 million in fines over the alleged collection of about $3.2 million in avoidable fees over a five-years.

Syngenta's (SYT) purchase by state-owned ChemChina has been approved by US regulators, subject to the combination selling some of its businesses to avoid anti-competitive situations.

GlaxoSmithKline (GSK) is voluntarily recalling more than 593,000 Ventolin asthma inhalers in the U.S. due to a defect that may cause the devices to deliver fewer doses of the medicine than indicated.

WATERCOOLER

An ad for Pepsi featuring model Kendall Jenner handing a can of soda to a police officer at a peace protest has sparked a backlash online. (CNBC)