Energy Boosts Dow Jones Industrial Average Ahead of Fed Decision

The Dow Jones Industrial Average (DJIA) added triple digits for a second straight day, as oil prices continued their rally, pulling energy stocks higher. Traders also considered the latest inflation data as the Fed meeting began, with the all-important interest rate decision set to be announced tomorrow afternoon.

Continue reading for more on today's market, including:

• The news that had bullish bets heating up on Sunedison Inc (SUNE).
• How this tech company bounced back from a 4-year low.
• 2 must-see charts as we head into the final weeks of December.
• Plus ... A bomb threat closes L.A. schools, inflation stays tame, and a big bullish nod for one Internet retailer.
  

The Dow Jones Industrial Average (DJIA - 17,524.91) added 156.4 points, or 0.9%, as Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) climbed 4.5% and 3.8%, respectively, to lead 25 of the 30 Dow members higher. Meanwhile, 3M Co (NYSE:MMM) was the biggest loser, sliding over 6%.

The S&P 500 Index (SPX - 2,043.41) gained 21.5 points, or 1.1%. The Nasdaq Composite (COMP - 4,995.36) climbed 43.1 points, or 0.9%, but lost its day-long battle to move above the 5,000 level. 

The CBOE Volatility Index (VIX - 20.95) fell 1.8 points, or 7.8%, ahead of tomorrow's VIX futures options expiration.

5 Items on Our Radar Today:

1. The Los Angeles Unified School District closed all of its schools today, after a board member received a bomb threat aimed at multiple schools in the district. Police have since determined that the threat was a hoax, but the district superintendent, Ramon Cortines, defended his decision to send students home. (CNBC)

2. According to today's consumer price index (CPI), prices were flat in the month of November. However, the core CPI -- which strips out volatile food and energy prices -- rose 0.2% for the third consecutive month, and was up 2% year-over-year. (MarketWatch)

3. One analyst predicted new all-time highs for outperforming Amazon.com, Inc. (AMZN).

4. BlackBerry Ltd (BBRY) got a boost from a new partnership.

5. M&A rumors had traders buzzing on this volatile biotech.

Data courtesy of Trade-Alert

Commodities:

Oil enjoyed a second day of gains, with traders pricing in expectations for a second consecutive weekly drop in domestic inventories. Crude oil for January delivery added $1.04, or 2.9%, to settle at $37.35 a barrel.

Gold prices slid lower, as traders brace for tomorrow's interest rate decision. February gold futures ended the day $1.80, or 0.2%, lower at $1,061.60 an ounce.