Wednesday: ADP Employment, Trade Deficit, ISM non-Mfg

• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:15 AM, The ADP Employment Report for July. This report is for private payrolls only (no government). The consensus is for 1.25 million payroll jobs added in July, down from 2.369 million added in June.

• At 8:30 AM, Trade Balance report for June from the Census Bureau. The consensus is the trade deficit to be $50.3 billion.  The U.S. trade deficit was at $54.6 Billion the previous month.

• At 10:00 AM, the ISM non-Manufacturing Index for July.   The consensus is for a reading of 54.8, down from 57.1.