PPI, Empire Fed and the Beige Book are on the US economic calendar Wednesday

A few things to watch in the day ahead

The economic calendar picks up Wednesday with a few notable releases. At 1330 GMT we get both the December PPI report and the January Empire Fed. The latter also includes benchmark revisions.

At 1900 GMT the latest Beige Book is due. That might offer an early indication of how companies are responding to the phase one trade deal and the recent improvement in economic sentiment.

On the earnings calendar we get Goldman Sachs, Bank of America, UnitedHealth and Alcoa. The aluminum giant is an early barometer for the industrial segment and global economy. Expectations are low. On the flipside, JPM is up only 1.25% today after crushing earnings while Wells Fargo is down nearly 5% on a miss so there's likely a higher bar for financials than the analyst consensus.