Investors will pay close attention when the Federal Reserve delivers its latest policy decisions at 2 p.m. ET, concluding a two-day Federal Open Market Committee (FOMC) conference. While market-watchers are not expecting a rise in interest rates, discussion on trade or where the Federal Reserve is thinking of heading could be on the table.
The meeting follows recent releases of economic data and the news that President Donald Trump was "not thrilled" about rising interest rates, expressing concern that the Fed could upset the economic recovery.
Earnings season continued Wednesday, with Restaurant Brands, AMC Entertainment and Generac among the companies that reported before the bell. Tesla is set to release after the close Wednesday.
Apple also reported earnings after the bell on Tuesday, surpassing analyst expectations. The report sent the tech giant's stock up by more than 4 percent in the premarket.
Elsewhere, Apple announced strong results after Tuesday's market close; with the tech giant posting $9.55 billion in software and services revenue for the third quarter.
In economic data, ADP employment figures showed job gains of 219,000 for July. Economists polled by Reuters had forecast a gain of 185,000.
Concerns surrounding trade continue. According to a Reuters report, citing a source, the Trump administration is looking at the possibility of slapping a 25 percent tariff on $200 billion worth of imported Chinese goods — after initially setting them at 10 percent. This comes as tensions between Washington and Beijing ramp up, and show no signs of easing.