Fed Beige Book, Fed Vice Chair Clarida speaks — What to know in markets Wednesday

Comments from Federal Reserve Chairman Jerome Powell sent stocks soaring on Tuesday. Powell indicated that the Fed would be open to easing monetary policy to sustain the expansion and save the economy.

Fed Vice Chairman Rich Clarida is scheduled to speak on Wednesday at 9:45 a.m. ET.

In addition, the Fed will be releasing its Beige Book on Wednesday at 2 p.m. ET. “The Beige Book prepared for the 18-19 June FOMC meeting will provide important context for the business response to the recent escalation of US-China trade tensions,” Nomura said in a note Friday. “We expect comments from local business leaders to reflect increased uncertainty about the economic outlook. In addition to trade policy uncertainty, we will look for comments on whether firms expect to pass on the cost of higher tariffs to consumers and the strength of retail sales and overall economic activity.”

On the corporate earnings side, investors can expect reports from American Eagle Outfitters (AEO) and Campbell Soup (CPB) before market open. Five Below (FIVE), MongoDB (MDB) and Stitch Fix (SFIX) are scheduled to report after the market close.

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Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

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