Here are the events that take place on Wednesday.
The Commerce Department will release its final estimate of first-quarter gross domestic product. The forecast from Refinitiv is for a seasonally adjusted annualized contraction of 1.5%. That is the same as the initial estimate last month, but a big reversal from the 6.9% growth in the fourth quarter.
China's COVID 19 lockdowns and semiconductor shortages continued to affect business, as the automaker's production target had already been downgraded. It makes May the third month in a row in which production fell short.
Quarterly results will be released on Wednesday with Barnes Noble Education, Bed Bath Beyond, General Mills, McCormick Co, Paychex and Schnitzer Steel.
FED SPEAK: Cleveland Fed President Loretta Mester will participate in a panel on The Role of Inflation Expectations in Monetary Policymaking before the European Central Bank Forum on Central Banking.
The Department of Energy will release its inventory report for the week ending June 17, which is delayed a week because of a system failure, according to the EIA. They will release inventory data for the week ending June 24, as scheduled.