Fed watching, Alibaba lock-up expires and Elon Musk's driverless future

The three major stock indices (^DJI, ^GSPC, ^IXIC) are trading lower through the first half of the day as investors await word from the Federal Reserve this afternoon. Will the FOMC change the language that has come to be commonplace in their statements – that the Federal Reserve with be “patient” when it comes to raising interest rates.

Other stories Yahoo Finance is watcing today include:

Alibaba lock-up expiration:
Today is the first day initial investors in Chinese e-commerce giant Albibaba (BABA) are free to sell the stock they bought in the initial public offering last September. The stock has been trading slightly lower as those investors decide whether or not to cash out. Yahoo Finance’s corporate parent, Yahoo, has a 15% stake in Alibaba.

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Elon Music on our driverless future:
Tesla (It’s the second day of the opening round of the NCAA basketball tournament. And one bracket picks Lafayette to win it all…when it comes to future salaries. According to data from Payscale.com, graduates from Lafayette and last night’s loser, Manhattan, have the best ratio of long-term salary to tuition in this year’s field of 68.

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