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• Hiring remains strong across the U.S. with private sector employment increasing by 227,000 jobs in October, according to the ADP National Employment Report®. Analysts were expecting189,000 jobs would be added during the month.

The U.S. October payroll increase was the highest since February 2018. ADP revised the September payroll additions to 218,000 from 230,000.

• President Donald Trump's top economic advisor pushed back slightly on reports that Trump may implement more tariffs on China as the two nations' trade battle escalates.

"Nothing is set in stone right now," Larry Kudlow told CNBC on Wednesday, ahead of potential talks between Trump and Chinese President Xi Jinping at the G-20 summit next month.

Washington and Beijing have levied an escalating series of tariffs that raised fears about broader damage to the U.S. economy. Trump has brought up the possibility of slapping tariffs on $267 billion more in imports from China as trade talks between the world's two largest economies stall.

• The White House and Republican lawmakers said on Wednesday they will take “swift action” next year on a 10 percent tax cut for middle-class Americans, as Republicans battle to retain control of the U.S. House of Representatives in next week’s elections.

President Donald Trump, who is campaigning to boost his party’s chances in the Nov. 6 voting, earlier this month said he wanted the tax cut for the middle class after being criticized for a 2017 tax overhaul that was seen as benefiting wealthier Americans and corporations.

• U.S. President Donald Trump said on Wednesday in a presidential memorandum that he had determined there was sufficient supply of petroleum and petroleum products from nations other than Iran to permit a reduction in purchases from that country.

The memorandum, addressing the secretaries of State, Treasury and Energy, comes days ahead of the administration’s renewed sanctions on Iranian oil exports, planned to come into effect on Nov.5.

• A deal on Britain’s withdrawal from the European Union is possible by November 21, Irish Foreign Minister Simon Coveney said on Wednesday, but it will require British negotiators in particular to step up efforts.

• Prime Minister Theresa May appeared assured when she met business leaders on Wednesday, attendees of the meeting said, and sounded confident on prospects for striking a Brexit deal despite concern that Britain might leave the European Union without one.

• South Korea’s spy agency has observed preparations by North Korea for international inspections at several of its nuclear and missile test sites, the Yonhap news agency said on Wednesday, citing a South Korean lawmaker.

U.S. officials declined to confirm the observations, but Secretary of State Mike Pompeo said in Washington he planned to meet his North Korean negotiating counterpart next week and would speak to him about inspections.

Pompeo said in a radio interview that North Korean leader Kim Jong Un had committed to allowing U.S. inspectors at two “significant” sites when he met him in Pyongyang this month.

• Oil prices fell on Wednesday and posted the worst monthly performance since mid-2016 on evidence of rising global crude supply, but losses were limited by signs of strong U.S. demand for fuel.

The Brent crude December LCOc1 futures contract, which expired Wednesday, fell 44 cents to settle at $75.47 a barrel. The more-active January contract LCOF9 fell 91 cents to settle at $75.04 a barrel.

West Texas Intermediate (WTI) crude CLc1 futures fell 87 cents to settle at $65.31 a barrel.

Both benchmarks were more than $10 a barrel below the four-year highs reached on Oct. 3. They both posted their worst monthly performance since July 2016, with Brent falling 8.8 percent for the month and WTI dropping 10.9 percent.

Reference: Reuters, CNBC, Foxbusiness