1. Global market overview

U.S. stock futures are holding steady, indicating that markets will continue trading close to the record-setting levels hit in late 2016.

European markets are looking a bit weak in early trading. Most Asian markets ended the day with gains.

This follows some solid performance in the U.S. on Tuesday. The Dow Jones industrial average jumped 0.6%, while both the S&P 500 and Nasdaq surged 0.9%.

Xerox was the best performer across all these indexes, surging 20% after announcing it had completed its separation from Conduent Incorporated.

2. Focus on the Fed

The U.S. Federal Reserve is scheduled to release the minutes from its important December meeting at 19:00 GMT. That's the meeting where the Fed raised interest rates for only the second time in a decade.

Wall Street will be scrutinizing the minutes to see whether Fed members talked about the impact of Trump's stimulus plans on future rate hikes.

3. Auto sales ahead

U.S. auto sales for December will be released Wednesday by the likes of Ford (F) and GM (GM).

Sales are forecast to hit a new record in 2016, but the auto sales boom could be leveling off.

Many anticipate a decline in 2017 sales following years of consecutive gains.

Tesla reported late on Tuesday afternoon that it fell short of its goal for 80,000 auto deliveries in 2016.

The electric car manufacturer delivered 76,230 cars in 2016.

That's still far more than the roughly 50,000 cars it delivered a year earlier.

4. China acts to support weak yuan

China's yuan firmed up after the central bank fixed a stronger daily trading midpoint on Wednesday, shoring up the faltering currency.

The move helped the yuan edge higher, while the offshore yuan hit a two-week high.

Last week China’s Foreign Exchange Trade System said it was changing the composition of the basket that is used to set the yuan's daily value. The number of currencies in the basket was increased to 24 from 13 on January 1.