Apple's Record Quarter Lifts Wall Street From Tuesday's Big Drop

U.S. markets started the day slightly higher at Wednesday's opening bell with tech stocks lifting Wall Street after Tuesday's big sell-off. Apple (AAPL) smashed analyst expectations for its latest quarter. Earnings skyrocketed 48% in the final three months of 2014. The company sold nearly 9 million more iPhone 6 and 6 Plus phones than forecast. Apple's profit of $18 billion was the biggest ever reported by an S&P 500 company. Yahoo (YHOO) is also in focus after the company reported earnings with a big announcement of spinning off its remaining stake in Alibaba (BABA). And the Fed's decision on any new policy changes is set to release at 2 pm, eastern. Investors aren't expecting any new clarity on when interest rates will rise but are keeping a close watch on what policymakers have to say about oil.