10 things you need to know before the opening bell
The September FOMC minutes are coming. Investors will have the opportunity to learn more about the three dissents that occurred at the September meeting as the latest FOMC minutes are scheduled to be released at 2 p.m. ET. The minutes could set the stage for a rate hike before the end of the year. Currently, Fed fund futures data complied by Bloomberg shows a 17.1% chance of a rate hike at the November meeting, and a 67.6% chance of a rate hike before the end of the year.
The British pound is surging. Sterling is clawing back some of the losses from the past week, trading up 1.2% at 1.2267 versus the dollar. According to the Wall Street Journal, the pound is at its weakest level ever against a basket of trade-weighted currencies.
Thailand's currency is tumbling. The baht is weaker by 0.7% at 35.714 per dollar on Wednesday, and has lost 2.4% since Friday's close amid the declining health of King Bhumibol Adulyadej.
Steel demand will improve in 2017. The World Steel Association says stronger than expected demand from China and emerging markets will boost global demand by 0.5% in 2017.
Samsung slashed its profit forecast. The electronics giant trimmed its third-quarter operating profit guidance to 5.2 trillion won ($4.66 billion) from 7.8 trillion won as a result of it permanently stopping the production of its Galaxy Note 7 smartphone.
Deutsche Bank raised more cash. On Tuesday, the bank raised $1.5 billion through the sale of 5-year notes. That comes after Friday's offering that raised $3 billion.
Volkswagen may force a bunch of workers to take early retirement. The German auto maker is considering forcing 2,500 workers per year for the next 10 years to take early retirement, Handelsblatt reports, citing Bernd Osterloh, chief of the carmaker's influential works council.
Earnings reporting is light. CSX will release its quarterly results after the markets close.
Stock markets around the world are lower. Japan's Nikkei (-1.1%) trailed in Europe and Britain's FTSE (-0.3%) lags in Europe. S&P 500 futures are down 2.75 points at 2,131.75.
US economic data is light. JOLTs Job Openings will be reported at 10 a.m. ET. The US 10-year yield is up 2 basis points at 1.78%.