The Market On Wednesday

At 8:20 a.m. futures are ever so slightly higher.

Its a big day from Wall Street's point of view. Its almost to the point where fourth quarter results have no importance.

Obama is giving his S.O.T.U. address tonight. People are expecting miracles, lots of luck with that. The mood is bleak. Investors on the other hand are poised to do hand stands.

The Fed will probably report that interest rates will remain flat. Bernanke will probably get reinstalled.

And me, well I am having a Wall Street crisis of the heart. What does it all mean anyhow?

Oh by the way, oil is up.

CNN: Stocks set to advance at open

The biggest event of the day...is probably the State of the Union address by President Obama, who will probably couch his speech to be "more friendly to the market."

Investors are on edge ahead of the Fed's policy statement, which is due out at 2:15 p.m. ET.

Reuters: Stock futures higher ahead of Fed, but earnings weigh

'Today is probably the busiest day we could have for catalysts that I can imagine, between the Fed, Obama, the data and all the earnings..."