With the fiscal cliff drama now over, Washington was looking toward the upcoming battle over the debt limit, which Republicans are expected to use to seek spending-cut concessions from President Obama and the Democrats. All major global markets were closed Tuesday for the New Year's holiday -- but many overseas markets posted strong gains Wednesday after news of the fiscal deal broke. Japan's Nikkei and the Shanghai Composite remain closed in an extended New Year's holiday. Investors will also get some economic data to consider after the opening bell. At 10:00 a.m. ET, the Institute for Supply Management will release its monthly manufacturing index.
