CNBC Stressed-out market may find some relief in this
CNBC.com Stressed-out markets will get a look Wednesday at the health of the U.S. services sector, a part of the economy considered to be the engine that will keep the country from falling into recession.
Economists expect the ISM nonmanufacturing index will fall to 55.1, from 55.3 in December, when it is reported at 10 a.m. ET. The ISM has not been below December's level since April 2014. Any number above 50 shows expansion. There is also ADP payrolls data at 8:15 a.m., a warm up to Friday's government report, and Markit services PMI data at 9:45 a.m. China also has services PMI data overnight.
Oil weighed heavily on markets Tuesday, and could do so again Wednesday after the American Petroleum Institute reported another larger–than-expected build in supply late Tuesday. U.S. government data are released at 10:30 a.m. Wednesday and could add to the negative mood if it too shows a larger supply build and steady U.S. production.