Fed and Facebook — What you need to know in markets on Wednesday.

In a busy week for markets and the economy, Wednesday will be highlighted by the Federal Reserve’s latest policy statement, ADP’s latest private payrolls report, and earnings from Facebook (FB).

Markets expect the Fed will keep the target range for benchmark interest rates between 0.75%-1%, while private payrolls are expected to rise by 180,000.

ADP’s report will be the first of three straight days of data on the US labor market, which will culminate with Friday’s report from the BLS.

Facebook earnings are also expected after the market close, where updates on the company’s Instagram unit will be in focus. On Tuesday, we got the other major tech earnings report of the week as Apple (AAPL) reported revenue and iPhone sales that missed expectations while earnings per share topped estimates.


By Myles Udland.
Full story at Yahoo News.