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Stocks on edge ahead of Fed meeting; Marijuana economy booming

Stocks are trading in range as another big test lurks for the market. Can Janet Yellen and the Fed get a passing grade after Mario Draghi flunked? Yahoo Finance's Nicole Sinclair and Jen Rogers discuss today's market action.

Does the Fed need to be fixed?

The Federal Open Market Committee will hold its first press conference of the year on Wednesday. But will the press conference or the Fed's other steps toward transparency provide insight into the organization? Joining us today is Peter Conti-Brown, author of the book the "The Power and Independence of the Federal Reserve."

Winners and losers

Stocks starting the week on a down note include EP Energy on a Goldman downgrade, Southwestern Energy on oil's slide, and Lannett - the generic drug maker slipping after revealing it will update its sales projections for 2016 after experiencing "unanticipated market softness."

Stocks in the green today include Chemours on a Goldman upgrade; Tesla, shares revving higher as Baird upgrades the stock to outperform citing accelerating production of its Model X SUV; and GW Pharmaceuticals, the drug maker surging after the company said its marijuana derived drug for children with severe epilepsy significantly reduced seizures during a phase three trial, paving the way for possible FDA approval.

Marijuana business booming

And speaking of marijuana, it really is big business in America. Marijuana Business Daily predicts up to $44 billion in economic impact by 2020. Joining us now for more is Dan Roberts, writer at Yahoo Finance.

Looking ahead

  • At 8:30 a.m. ET, we'll get the Producer Price Index for February, with the core reading, which excludes food and energy, showing a slight gain of 0.1%.
  • Economic data rolls on with retail sales figures for February. Analysts are looking for a 0.3% percent jump with auto and gas sales data backed out.
  • Finally, there are massive primaries in the race for 2016 with voters streaming to polling sites tomorrow in Florida, Ohio, Illinois, North Carolina, and Missouri.