The Market On Wednesday

  Good morning. It is 45 degrees and sunny here in Upstate NY. It looks like we are in for a pretty nice day. Unfortunately the logos are suggesting lots of rain over the next week. It's a very wet, windy, and cooler Spring so far.

  At 8:20 a.m. ET futures are modestly higher and the price of oil per barrel is up. The market is poised to open higher.

  Besides the news of a major IPO, investors will be honed in on Fed Chair Janet Yellen's remarks later today. Recall that the Fed is the bank of last resort and the most powerful financial institution on the planet. Yellen's remarks will set a defined tone on the state of our economy and will be in the tonight's financial news reports. It's a big deal.

CNN: Stocks: Yellen's got clout, Alibaba the buzz

Chinese tech behemoth Alibaba filed paperwork on Tuesday that sets the stage for what could be the biggest initial public offering in U.S. history.

Investors will pay close attention to the Federal Reserve chair when she heads to Capitol Hill to answer questions about the health of America's economy.