The Market On Wednesday

  Good morning. It is 12 degrees and cloudy with a little bit of sunshine here in the Upper Hudson Valley. It looks like we are in for a week of real Winter, lots of deep cold and some more snow. We survived Juno just fine. I'm guessing we got about 6 inches of snow and the roads are just fine. Now it's a matter of dressing with lots of layers because it is cold out there.

  At 9:00 a.m. ET futures are slightly higher and the price of oil per barrel is down. The market is poised to open higher.

  Man do we wish we bought shares of Apple way back in 2008 when the price of one share was below $100. I do not have the exact number but that share would be worth approximately $1,000 give or take right now - not bad, not bad at all. It is corporate report time and on top of that the Fed is issuing a statement - it's open season.

CNN: Stocks: 5 things to know before the open

Shares in Apple are expected to jump at the open after the company posted the biggest profit in corporate history in the last quarter, when it sold 74.5 million iPhones.

The Fed is concluding its two-day meeting Wednesday and investors will be parsing through the Fed's new statement to guess when the central bank may be ready to raise interest rates.