The Market On Wednesday

  Good morning and welcome to Spring! It is 23 degrees, sunny, and everything is coated in snow here in Upstate NY. In short it does not look or feel anything like the first day of Spring, it looks more like December so we are moving along on faith and increased daylight. Spring is indeed here in theory and the warmer weather is welcome.

  At 7:30 a.m. futures are moderately higher and the price of oil per barrel is up. The market is poised to open higher.

  The economic crisis in Cyprus remains but even that will be usurped this afternoon as investors parse Bernanke's latest words on the potential state of the US economy. The expectation is to hear a scolding regarding the malicious sequester antics of our Tea Party regressive Congress hell bent on doing anything it can to dismiss Obama and thereby reclaim power for the GrandOldTeaParty in 2016 when the country realizes that a GOTP inspired economic crisis is really Obama's fault and not the GOTP's. Message to the GOTP, this is an asinine plan with strong extra emphasis on the word asinine, the country knows it, and we've come to expect no better from your noodle brained dog and pony show.

CNN: Stocks: Fed on deck amid Cyprus turmoil

At 2 p.m. ET, the Fed will release its latest statement on interest rates and economic forecasts.