NEW YORK ( TheStreet) -- After a strong rebound on Monday, U.S. stocks are declining on Tuesday, likely in anticipation of the Federal Reserve's FOMC statement on Wednesday. 

The Fed is going to be "really deliberate, very transparent," Sarat Sethi, managing director at Douglas Lane & Associates, said on CNBC's "Fast Money Halftime Report." He expects the Fed to remove the word "patient" from its statement, but to act patient in its handling of a rate hike by waiting for more economic data to surface before making a decision. 

The central bank will likely take this approach because the economic data hasn't been that strong in recent weeks, Sethi added. The stock market is near fair value, he added.

Investors shouldn't necessarily expect a huge move in the stock market following the Fed's announcement, said Josh Brown, CEO and co-founder of Ritholtz Wealth Management. The Fed tries to remain completely transparent and surprise the market as little as possible. 

Over the last eight Fed meetings, the S&P 500 has only declined an average of 0.13%, Brown pointed out. Growth stocks continue to act better than value stocks, as indicated by small cap stocks outperforming large cap stocks. 

Joe Lavorgna, chief U.S. economist and managing director at Deutsche Bank, expects the Fed to remove "patient" from its statement.

The Fed wants to be flexible and remain data-dependent on when it will hike rates. Recent economic data doesn't look too good, but Lavorgna says it's likely just temporary, as the labor market remains strong. 

The market remains in a tough trading environment, as investors try to anticipate the Fed's next move, said Pete Najarian, co-founder of optionmonster.com and trademonster.com. It is trying to buy more time for the economy to strengthen, he added.

The conversation shifted to Apple (AAPL) - Get Report, after reports surfaced that the company is working a web TV service that gives subscribers access to a few dozen channels for roughly $30 to $40 per month. It could involve broadcasters like Disney's (DIS) - Get Report ABC and ESPN, CBS Corp. (CBS) - Get Report and Twenty-First Century Fox (FOX) - Get Report. 

Apple stock is higher by roughly 2%, while cable providers like Comcast (CMCSA) - Get Report and Charter Communications (CHTR) - Get Report, as well as streaming plays like Netflix (NFLX) - Get Report and Amazon (AMZN) - Get Report are all lower on the day. 

"Cutting the cable" is becoming a common theme for millennials, said Jon Najarian, co-founder of optionmonster.com and trademonster.com. It's Apple's first big step forward from the Apple TV device and would please a lot of customers by giving them access to their content on the go. 

Watching TV in different rooms on different devices is tailored to the younger demographic, Brown said, but the cable companies won't go down without a fight. With bundled Internet and features like DVR recording, it doesn't make them instant losers. 

Sethi agreed with Brown, adding that companies like Comcast own both media distribution and content, with its set-top boxes and NBC channels. 

Apple's move could "potentially be a huge positive for Netflix, said Scott Devitt, an analyst at Stifel Nicolaus. As more consumers move away from traditional cable, it will benefit Netflix. 

Devitt also upgraded shares of Alibaba (BABA) - Get Report to buy from hold and assigned a price target of $99. The company has a share lockup expiration on Wednesday for more than 300 million shares, but this event is already known by investors, Devitt noted.

Plus, it's generally a "coin toss" whether lockup expirations hurt shares of high-profile Internet companies, he added. 

Alibaba has strong growth and, due to the recent sell-off, a very reasonable valuation, Devitt said. He expects the company to have a very strong second half in 2015. 

For their final trades, Pete Najarian likes athletic apparel plays like Under Armour (UA) - Get Report, Nike (NKE) - Get Report, Lululemon Athletica (LULU) - Get Report and Foot Locker (FL) - Get Report, while Jon Najarian likes Best Buy (BBY) - Get Report. Sethi likes the transport sector and Brown is buying J.B. Hunt Transport Services (JBHT) - Get Report.