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Market's brace for Fed policy decision; Amazon's anticipated smartphone; Will Coke Life grab health-conscious drinkers?

Hot Stock Minute

Wall Street is bracing for the Federal Reserve policy decision at 2 p.m. Eastern today. The Fed is expected to continue reducing bond purchases. It will also release its quarterly forecasts. Investors are also watching oil prices after Sunni militants attacked Iraq's largest oil refinery, fueling fears of supply disruptions in the region.

General Motors (GM) CEO Mary Barra heads back to Capitol Hill to face questions from lawmakers on why the company waited more than a decade to recall cars with faulty ignition switches that are linked to at least 13 deaths. Anton Valukas, the former federal prosecutor who conducted a recent GM probe of the recall crisis, will also be testifying.

Amazon (AMZN) is expected to unveil a smartphone at an event in Seattle at 1 p.m. Eastern today. The anticipated smartphone is expected to have software to track the user's eye movements and have 3-D imaging. The Wall Street Journal reported that AT&T (T) will be the exclusive wireless carrier for the phone.

Facebook (FB) unveiled its messaging app Slingshot yesterday. It allows users to send photos or video that will disappear after they're viewed. Last year, Facebook offered to buy Snapchat, the app that also deletes pictures and video after their seen, for a reported $3 billion.

Coca-Cola (KO) is launching a new brand of Coke, just not in the U.S. - at least not yet. The company has been testing Coke Life in Argentina and Chile since last year and will launch it in the U.K. this September. It has fewer calories and less sugar than regular Coke and is naturally sweetened with an extract from stevia leaf.

That brings us to today's poll question. Do you think another lower-calorie soda can survive in a health-conscious market? Vote in our poll, leave a comment below or on Twitter.