Reuters/Alkis Konstantinidis
A petrol bomb explodes next to riot police during a demonstration against the visit of U.S President Barack Obama, in Athens, Greece.
The dollar hasn't been this strong since 2003. The US dollar index has reclaimed the 100.00 level, and is now higher by 0.2% at 100.45. The greenback hasn't been this strong versus the basket of its peers since the first quarter of 2003.
Bonds are selling off again. The US Treasury complex booked solid gains on Tuesday, ending its skid, but has once again come under pressure. Early selling has yields higher by as much as 6 basis points in the belly of the curve with the 10-year up to 2.27%. The benchmark yield hit 2.30% amid Monday's selling.
The Dow has gone up 7 straight days. On Tuesday, the Dow Jones Industrial average closed in on the 19,000 level as it put in another record high. As for Wednesday, the Dow is looking to open lower by 0.2% near 18,885.
The Fed might only hike rates one more time. Speaking at a UBS conference in London, St. Louis Fed President James Bullard said "A single policy-rate increase, possibly in December, may be sufficient to move monetary policy to a neutral setting."
Oil is giving back some of Tuesday's gains. West Texas Intermediate crude oil trades down 1.4% at $45.17 per barrel. The energy component gained more than 4% on Tuesday, following a Reuters report suggesting OPEC nations will agree to a production cut at the upcoming meeting.
British unemployment is at it lowest level since 2005. Unemployment in Britain fell to 4.8%, according to data released by the Office for National Statistics. The British pound is little changed on the news, down 0.2% at 1.2425 against the dollar.
Sweden might issue a national digital currency. The Riksbank, Sweden's central bank, is considering a national digital currency, called the ekrona, as the rise of online shopping and payment cards has caused the amount of money in circulation to fall by 40% since 2009.
Snapchat files for an IPO. Snapchat's parent company, Snap, has filed paperwork for an initial public offering that could come as early as March and value the company between $20 and $25 billion.
US economic data is heavy. PPI will be released at 8:30 a.m. ET before industrial production and capacity utilization cross the wires at 9:15 a.m. ET. Data concludes when the NAHB Housing Market Index is announced at 10 a.m. ET.
Earnings reporting is light. Lowe's and Target will report ahead of the opening bell while Cisco Systems and L Brands are set to release their quarterly results after markets close.