Wall Street Quiet Until 2:15 P.M.

For a change, Wall Street opened with some restraint today, keeping its powder dry until about 2:15 p.m., when the Fed is widely expected to issue an interest-rate cut at the conclusion of its two-day meeting.

Then, all heck could break loose on Wall Street. But then, that's just another ordinary day.

In the first 15 minutes of trading, the Dow is essentially flat.

Same thing for the S&P 500 and the Nasdaq.

A lot of third-quarter earnings out today and we'll parse those later. A quick look:

- Kraft beat street expectations.

- Proctor & Gamble was right on expectations.

- Comcast profits were up 38 percent.

- Aetna dropped on bad investments and Qwest said it will lay off 1,200 workers.

-- Frank Ahrens