Wall Street stocks may open Wednesday’s session on a cautious note, as the major averages rose for two straight sessions and are perched at over 3-month highs. Global cues are, however, positive, with Asian stocks closing solidly higher amid the release of solid Chinese service sector activity data, positive debut of Japan Post shares and speculation concerning the linking of the Shenzhen and Hong Kong exchanges. European stocks are also currently higher despite automakers taking a hit in the German market. The domestic markets may react to media earnings from companies such as Time Warner (TWX) and 21st Century Fox (FOXA), economic data on private sector payrolls and service sector activity. Several Fed speeches are scheduled for the day, including one from Fed Chair Janet Yellen.