Wednesday's economic calendar:
7:00 MBA Mortgage Applications
10:00 Wholesale Trade
1:00 PM Results of $21B, 10-Year Note Auction
2:00 PM Fed's Beige Book
2:00 PM Treasury Budget
4:30 PM Daniel Tarullo speaks on Financial Stability Regulation.
4:45 PM Fed's Fisher: 'Europe's Crisis and the Welfare State: Lessons for the United States'