Peter Schacknow, Senior Producer, CNBC Breaking News Desk
Though June is still shaping up as Wall Street's worst month since August, the bulls seem to have regained their footing, at least for now.
The Dow and the S&P 500 are coming off their first 4-day win streak since the end of May, while the Nasdaq had its best one-day percentage gain since October 5.
U.S. stock index futures are actually pointing a bit lower at the moment, as investors digest the positive outcome of the confidence vote from Greece, and look ahead to today's Federal Reserve interest rate decision and statement.
This is one of the FOMC meetings that will be followed by a news conference held by Fed chairman Ben Bernanke, so the decision and statement will come at 12:30pm ET, while the news conference will begin at 2:15pm ET.
While we await the Fed decision, investors will get a look at the latest budget projections from the Congressional Budget Office, due out at 10am ET.
Two usual weekly Wednesday reports will be out this morning: the Mortgage Bankers Association's weekly look at mortgage applications at 7am ET, and the EIA's measure of oil and gasoline inventories at 10:30am ET.
The government will also release its Home Price Index data for April at 10am ET, with economists looking for a drop of 0.3% compared to the prior month.
Dow Transportation component FedEx will be out with earnings this morning, as will vehicle seller CarMax (KMX).
After the closing bell, we'll get the latest quarterly numbers from Bed Bath & Beyond (BBBY), Paychex (PAYX), and Red Hat (RHT).
Stocks to watch this morning include Jabil Circuit (JBL) which beat estimates with its fiscal third quarter earnings and revenues, but gave a Q4 forecast that was below Street forecasts.
Adobe Systems (ADBE) also beat estimates for its latest quarter, and gave a forecast that straddles analyst estimates.
We'll watch shares of AstraZeneca (AZN), which has sold its Astra Tech unit to Dentsply (XRAY) in a $1.8 billion deal.
Nokia (NOK) has announced a major revamping of its business operations, in hopes of competing more effectively against its rivals.
Yahoo (YHOO) is in the news for three different reasons: Alibaba, Softbank, and Yahoo issued a joint statement saying they're making progress in resolving a dispute over ownership of Alibaba's Alipay electronic payments unit.
And TechCrunch is reporting that Yahoo is looking to replace CEO Carol Bartz, but a Yahoo source told CNBC that Bartz has the full support of the board.
Also, the LA Times is reporting that Yahoo is the unnamed party that's approached Hulu about a possible, but the Yahoo source would not comment on that.
CNBC's Julia Boorstin confirms that Hulu has been approached, and that Google (GOOG) was not the potential buyer, as had also been rumored.
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