From Briefing.com: The broader market closed modestly off session highs ahead of tomorrow's FOMC announcement, where it is widely expected to call for the first fed funds rate hike since 2006. The advance was led by the S&P 500 which added 21.47 points (+1.06%) to closed 2043.41. The Dow Jones Industrial Average grabbed gains of 156.41 points (+0.90%) to 17524.91. The Nasdaq Composite also closed higher, up 43.13 points (+0.87%) to 4995.36. Today's market data came in the form of Consumer Price Index, which was unchanged for November while core CPI increased 0.2%. Empire Manufacturing Survey for December improved to -4.7 from -10.7 in November. The NAHB Housing Market Index slipped to 61 from 62.
Technology (XLK 43.32, +0.19 +0.44%) names were higher on the session as tech names in general saw help from the broader market today. Component Symantec (SYMC 20.18, +0.64 +3.28%) finished the day near the top of the gainers list as the company was upgraded in the overnight session by Morgan Stanley to an Overweight rating. By comparison, all others sectors finished in the green today XLE +2.52%, XLF +2.34%, XLV +1.30%, IYZ +1.00%, XLU +0.79%, XLP +0.64%, XLB +0.55%, XLY +0.55%, XLI +0.02%.
Semi (SOX 666.47, +9.97 +1.52%) names saw increased buying today as TerraForm Global (GLBL 4.74, +0.01 +0.21%) issued an update regarding the company's acquisitions referred to in the Form S-1 on August 5, 2015. In addition, component SunEdison (SUNE 4.95, +0.56 +12.76%) saw increased buying as the company requested GLBL forfeit its right to purchase certain call right projects from the agreement between the two.
The S&P 500 Information Technology sector (727.29, +3.05 +0.42%) also closed higher, as broader market action took the sector to the green at the bell and never looked back. Notably in the sector, component Apple (AAPL 110.49, -1.99 -1.77%) showed weakness as the company retreated following supplier Dialog Semi.'s (DLGNF 37.15, flat) guidance. In contrast, shares of chip name Qualcomm (QCOM 48.02, +1.19 +2.54%) were strong today as the company raised guidance for the Q1 period.
Other notable news items among sector components:
Qualcomm (QCOM) decided current structure remains the best option for the company following comprehensive review. The company also raised Q1 EPS guidance and as a result, QCOM now expects to be at or modestly above the high end of the prior GAAP and Non-GAAP earnings per share guidance ranges for the fiscal first quarter of $0.80-0.90.
Alliance Data (ADS 267.99, -1.90 -0.70%) reported November card services performance data, showing average receivables +23% year-over-year to about $12.47 billion.
Accenture (ACN 106.70, +0.32 +0.30%) acquired Beacon Consulting Group. Financial terms of the deal were not disclosed.
SAP (SAP 78.26, +0.78 +1.01%) announced that Wipro (WIT 12.01, +0.13 +1.09%) is extending its SAP footprint by deploying SAP's next-generation business suite, SAP Business Suite 4 SAP HANA, and other solutions from SAP.
IBM (IBM 137.79, +1.86 +1.37%) announced the opening of its global headquarters for Watson Internet of Things, launching a series of new offerings, capabilities and ecosystem partners designed to extend the power of cognitive computing to the billions of connected devices, sensors and systems that comprise the IoT.
Microchip Technology (MCHP 46.07, +1.46 +3.27%) announced that Audi will use its MOST150 technology to network the Audi virtual cockpit system, in the latest model year of its A4 Sedans.
TSYS (TSS 55.74, +0.95 +1.73%) signed a payments agreement with Atlanticus to support its loan origination platform, Fortiva. Financial terms of the long-term agreement were not disclosed.
F5 Networks (FFIV 99.74, +3.44 +3.57%) appointed Chairman John McAdam as President and Chief Executive Officer.
NVIDIA (NVDA 32.97, +0.40 +1.23%) confirmed ITC patent ruling - the company lost a patent case against Samsung (SSNLF 1100, flat) and Qualcomm (QCOM).
Elsewhere in the technology space:
ManTech (MANT 30.85, -0.21 -0.68%) received a prime contract to provide software engineering support to system fielding from US Army with the potential total value of $34 million.
M/A-COM Tech (MTSI 37.47, +0.33 +0.89%) acquired Aeroflex's (ARX) diode business for $38 million in cash.
CDK Global (CDK 46.45, -0.02 -0.04%) announced a plan to return $1 billion in capital to its shareholders by the end of 2017 and entered into $250 million accelerated share repurchase agreement.
TerraForm Global (GLBL) issued update, cautioned that certain of its pending acquisitions are expected to be delayed in their closing until 1Q16.
Boeing (BA 146.53, +3.48 +2.43%) added AT&T (T33.81, +0.21 +0.63%) CEO, Randall Stephenson, as a new director of the Board effective Feb. 2016.
Vishay Precision (VPG 11.76, +0.29 +2.53%) acquired Stress-Tek for about $20.0 million.
Palo Alto Networks (PANW 185.75, +2.06 +1.12%) announced an amended agreement with Flextronics (FLEX 11.04, +0.21 +1.94%). The new agreement replaced in its entirety the existing Flextronics Manufacturing Services Agreement.
FXCM (FXCM 6.76, -1.29 -16.02%) reported November monthly metrics, showing retail customer trading volume of -12% year-over-year to $298 billion.
Dialog Semi (DLGNF) lowered its Q4 revenues guidance to $390-400 million from $430-460 million.
In reaction to quarterly results:
FactSet (FDS 162.59, -6.57 -3.88%) reported Q1 GAAP EPS at the low end of the guidance range with revenues up 11.5% YoY to $270.5 million. The company also guided Q2 EPS and revenues in-line with expectations.
VeriFone (PAY 26.49, +0.04 +0.15%) reported Q4 EPS which beat expectations at $0.49 on revenues which were in-line at $514 million. The company also guided Q1 EPS and revenues worse than expected and FY16 EPS and revenues toward the low end of anticipations.
Applied DNA Sciences (APDN 3.93, +0.31 +8.56%) reported a GAAP loss per share of $0.02 and revenues of $3.98 million, both of which were better than expected.
Analyst actions:
TXN upgraded to Outperform from Perform at Oppenheimer,
WNS upgraded to Buy from Neutral at Goldman,
SYMC was upgraded to Overweight from Equal Weight at Morgan Stanley;
PAY was downgraded to Neutral from Buy at Goldman,
WSTC was downgraded to Sell from Neutral at Goldman,
ADI was downgraded to Perform from Outperform at Oppenheimer
4:10 pm : The stock market enjoyed a broad-based rally on Tuesday, which lifted the S&P 500 (+1.1%) back above its 100-day moving average (2,030). The benchmark index extended this week's gain to 1.5% ahead of tomorrow's FOMC announcement, which is widely expected to call for the first fed funds rate hike since 2006.
Overnight, the early portion of the Asian session was highlighted by some caution among investors, but the overall sentiment began improving once the attention shifted to Europe. Accordingly, markets in France (+3.2%), Germany (+3.1%), and the UK (+2.5%) soared amid broad support.
Contributing to the upbeat sentiment was a rally in crude oil as the energy component climbed despite greenback strength that sent the Dollar Index (98.22, +0.62) higher by 0.6%. As for oil, WTI crude surged 2.7% to $37.32/bbl, taking the energy sector (+2.9%) along for the ride.
The growth-sensitive energy sector settled atop the leaderboard, but despite today's surge, the sector is still down 7.8% for the month. Similarly, the financial sector (+2.4%) was also at the forefront of today's advance after showing relative weakness as of late. The economically-sensitive group narrowed its December loss to 2.0% versus a 1.8% month-to-date decline for the S&P 500. Recent concerns about the high-yield bond space were masked by a 1.6% spike in iShares iBoxx $ High Yield Corporate ETF (HYG 80.12, +1.29), which returned to its range from Friday.
Staying on the cyclical side, the top-weighted technology sector (+0.4%) settled behind the broader market as Apple (AAPL 110.49, -1.99) slid 1.8% to extend yesterday's retreat. However, the relative weakness in the top tech component was partially offset by gains among semiconductor names. The PHLX Semiconductor Index rose 1.5% with Qualcomm (QCOM 48.02, +1.19) surging 2.5% after the company boosted its guidance and announced plans to maintain its organizational structure.
Elsewhere, the industrial sector (+0.1%) could not keep pace with the market after 3M (MMM 148.13, -9.50) lowered its guidance. The Dow component settled lower by 6.0% while another sector member-Deere (DE 77.24, -1.70)-slumped 2.2% after peer AGCO (AGCO 46.04, -3.38) cut its earnings and revenue outlook.
Today's rally in stocks was met with selling interest in the Treasury market. The 10-yr note settled near its session low, pushing the benchmark yield to 2.27% (+5 bps).
Investor participation was ahead of average as more than 940 million shares changed hands at the NYSE floor.
Economic data included CPI, Empire Manufacturing, and NAHB Housing Market Index:
The Consumer Price Index was unchanged in November (Briefing.com consensus 0.0%) while core CPI increased 0.2% in November (consensus +0.2%)
On a year-over-year basis, total CPI is up 0.5%, representing the highest level since December 2014
On a year-over-year basis, core CPI is up 2.0%, representing the highest level since May 2014
The Empire Manufacturing Survey for December improved to -4.7 from -10.7 reported in November while the Briefing.com consensus expected a reading of -5.9
The NAHB Housing Market Index slipped to 61 from 62 while the consensus expected an improvement to 63
Tomorrow, weekly MBA Mortgage Index will be reported at 7:00 ET while November Building Permits (Briefing.com consensus 1.15 million) and Housing Starts (consensus 1.135 million) will be reported at 8:30 ET. The November Industrial Production report (consensus 77.5%) will cross the wires at 9:15 ET and the latest policy decision from the Federal Open Market Committee will be released at 14:00 ET (consensus 0.5%).
Nasdaq Composite +5.5% YTD
S&P 500 -0.8% YTD
Dow Jones Industrial Average -1.7% YTD
Russell 2000 -6.0% YTD
DJ30 +156.41 NASDAQ +43.13 SP500 +21.47 NASDAQ Adv/Vol/Dec 2160/1.85 bln/852 NYSE Adv/Vol/Dec 2468/942.8 mln/663
3:30 pm :
The dollar saw broad strength all session, a reversal from the negative overnight trend-driven by in-line US economic data ahead of tomorrow's FOMC meeting.
The index traded up to its HoD going into the commodity closes- with notable pressure being put on gold and copper. The dollar is now +0.6% to 98.31
Crude lifted the flat-line going into the open of pit trading, and saw a set of modest rallies (in the early-am and mid-day) that pressed the January contract to gains for the session. Sentiment ahead of tonight's API data, tomorrow's EIA inventory report and headlines surrounding the end of a US oil export ban were prime drivers this session.
The January contract closed +2.7% to $37.32/barrel- near its HoD.
Natural gas trended moderately lower in early price action, but saw progressively heavier selling as the session wore on- closing at strong losses for the day.
Unchanged near-term forecasts calling for warm national weather trends consumed market sentiment, as Nat gas closed -3.7% to $1.82/MMBtu
Gold and copper were both driven to losses by strength in the dollar, while silver stood more robust, closing green for the session.
Gold finished -0.2% to $1061.50/oz, copper at -2.4% to $2.06/lb and silver +0.5% to $13.77/oz
AI
Market Data 
Markets 
