Modest rate increase boosts markets

The Federal Reserve's modest interest rate increase signaled a strengthening economy. The markets surged to close sharply higher with the Dow rocketing 224 points to 17,749. Nasdaq jumped 75 points to 5,071.

On the upside

Ford (NYSE: F) will begin testing its Ford Fusion Hybrid self-driving car in California in January.

Gold prices edged up to lift shares of Barrick Gold (NYSE: ABX).

The solar sector rally boosted shares of Enphase Energy (Nasdaq: ENPH) and SolarEdge Technologies (Nasdaq: SEDG).

On the downside

RPX (Nasdaq: RPXC) will pay approximately $232 million in cash to acquire Inventus Solutions.

Falling crude oil prices weighed down shares of Bonanza Creek Energy (NYSE: BCEI), Denbury Resources (NYSE: DNR) and Eclipse Resources (NYSE: ECR).

Lakeland Industries (Nasdaq: LAKE) reversed year ago losses to post a profit for the third quarter but revenue fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 leaped 29 points to 2,073. Bitcoin fell $8 to $451.

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