Another point of discussion Wednesday will likely be the performance of U.S. markets in general. In the previous session, the Dow Jones industrial average broke above 23,000 for the first time on an intraday basis, and closed just below the 23,000 of the mark.
The U.S. central bank's latest publication of the Beige Book will also be in focus; which is set to come out at 2 p.m. ET. The publication is expected to shed light on the U.S. Federal Reserve's thoughts on present economic conditions.
Elsewhere, housing starts and building permits areboth due at 8:30 a.m. E.T.
Speaking of central banks, New York Fed President William Dudley is expected to be in New York at an event called "From the Lone Star to the Empire State: A Discussion of Regional Economic Trends in Texas and New York". Dallas Fed President Robert Kaplan is also believed to be speaking in New York.
On Tuesday, CNBC came to learn that U.S. President Donald Trump would likely announce his pick for who would take up the position of Fed Chair at the start of next month.
At present, reports suggest that there are currently five candidates in the running for the role, including current Chair Janet Yellen, whose term expires early 2018.