Investors are positioning themselves for some excitement today. They are likely to get it—as we get new numbers on U.S. GDP, a new rate decision from the Fed, and ADP reports on private payrolls.

Wall Street ticked quietly higher ahead of the opening bell Wednesday as markets absorbed another spate of corporate earnings reports while waiting to see what the Federal Reserve will do with its benchmark interest rate.

The S&P 500 and Nasdaq snapped their record run on Tuesday due to disappointing results from Dow components such as UnitedHealth and Merck. The European Union on Sunday joined the list of U.S. trading partners that have struck agreements with Washington.