Wednesday:

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

• At 8:30 AM, Housing Starts for March. Total housing starts were at 907 thousand (SAAR) in February. Single family starts were at 583 thousand SAAR in February. The consensus is for total housing starts to increase to 965 thousand (SAAR) in March.

• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for March. The consensus is for a 0.5% increase in Industrial Production, and for Capacity Utilization to increase to 78.8%.

• At 12:25 PM, Speech by Fed Chair Janet Yellen, Monetary Policy and the Economic Recovery, At the Economic Club of New York, New York, New York

• At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.