U.S. stocks closed higher Tuesday, supported by stabilization in oil prices and high expectations for the first interest rate hike in nine years. In U.S. economic news, the November Consumer Price Index (CPI) came in unchanged, while excluding food and energy the figure rose 0.2 percent. In the 12 months through November, the core CPI rose 2.0 percent, which analysts noted matched the Federal Reserve's (Fed) target for the first time since May 2014. In international economic news, European equities closed higher Tuesday, buoyed by positive car registration data in the European Union, ahead of the Fed meeting. The pan-European Stoxx 600 index was up nearly 2.9 percent. The dollar index held about 0.6 percent higher against major world currencies. Light sweet crude oil for January delivery added $1.04 to $37.35 a barrel on the New York Mercantile Exchange, while gold futures dropped $1.80 to $1,061.60 an ounce. The Dow Jones industrial average gained 198, or 1.15 percent, to 17,568. The broader Standard & Poor's 500 index climbed 27, or 1.33 percent, to 2,048. The technology-heavy Nasdaq composite index increased 60, or 1.21 percent, to 5,011.
