Here’s what we’re watching ahead of Wednesday’s market action.

U.S. stock futures wavered as January retail sales rose more than expected and ahead of the release of notes from Federal Reserve policy makers’ latest meeting.

Futures tied to Dow Jones Industrial Average were down 0.1% after the blue-chip index on Tuesday closed at a record. Contracts on the S&P 500 edged down 0.3%, while futures on the technology-heavy Nasdaq-100 fell 0.6%. Read our full market wrap.

What’s Coming Up

Earnings are due from Hyatt Hotels and Herbalife after the close.

The Federal Reserve releases minutes from its Jan. 26-27 meeting at 2 p.m.