Dow stocks at 52 week highs include Microsoft (MSFT). There are no Dow stock 52 week lows.

The Market

Premarket today, the Dow was indicated to open up +14 points.

Tuesday, the Dow closed up +88.97 (+0.55%) at 16,336.19.

Year-to-date the Dow is down -1.45%.

The Fed’s Open Market Committee meeting winds down today. It’s Janet Yellen’s first meeting in charge of the Fed and investors are waiting to see what she has to say.

Thursday, Nike (NKE) will report earnings after the close. Analysts are expecting that Nike will report that its revenue for the quarter increased more than eight percent year-over-year to $6.70 billion. Earnings of $0.72 per share are also in the consensus forecast. That would be slightly down from $0.73 per share in the same period of last year.

Exxon Mobil (XOM) is preparing to invest $20 billion in a gas-fired power project in Vietnam.

3M (MMM) is forecasting its revenue from China to grow 15 percent over the next five years.

European stocks are mixed and Asian stocks ended mostly lower.

The national average price of gasoline is up four-tenths of a cent to $3.528 per gallon.

Earnings Reports.

Nike (NKE) is expected to report earnings on 3/20/14 after the market close.

Notable earnings reports from Tuesday include:

Adobe Systems Incorporated (ADBE) reported fourth quarter EPS of $0.30 on revenue of $1.00 billion, compared to last year’s EPS of $0.35 on revenue of $1.01 billion.

DSW Inc. (DSW) reported fourth quarter EPS of $0.30 on revenue of $572.30 million, compared to last year’s EPS of $0.35 on revenue of $594.25 million.

Oracle Corporation (ORCL) reported third quarter EPS of $0.68 on revenue of $9.31 billion, compared to last year’s EPS of $0.65 on revenue of $8.97 billion.

Stocks reporting earnings today include:

FedEx Corporation (FDX) is expected to report third quarter EPS of $1.54 on revenue of $11.46 billion, compared to last year’s EPS of $1.23 on revenue of $10.95 billion.

General Mills, Inc. (GIS) is expected to report third quarter EPS of $0.68 on revenue of $4.46 billion, compared to last year’s EPS of $0.64 on revenue of $4.43 billion.

Jabil Circuit, Inc. ( JBL) is expected to report second quarter EPS of $0.11 on revenue of $3.62 billion, compared to last year’s EPS of $0.53 on revenue of $4.42 billion.

Today’s Featured Dow Stock

General Electric Co. (GE)

General Electric Co. (GE) is down -8.49% year-to-date.

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -2.1% with purchase sub-index -0.5% and refi sub-index -3.1%.

0830 ET Q4 current account balance expected -$88.0 billion, Q3 -$94.84 billion.

1030 ET EIA Weekly Petroleum Status Report.

1400 ET FOMC policy announcement. Federal funds target rate expected unchanged at zero to 0.25%. FOMC expected to cut QE3 by -$10 billion to $55 billion, last meeting -$10 billion cut to $65 billion ($35 billion of Treasuries and $30 billion of mortgage securities).

1430 ET Fed Chair Janet Yellen holds press conference following FOMC meeting.