New York, Dec 16^th (TradersHuddle.com) – Stocks rose as a tame report on consumer prices helped control inflation fears and on speculation the Fed will hold its benchmark interest rate at a historically low level to help sustain the global economic recovery. Oil and metals rallied.

At 10:42 AM the Dow Jones Industrial Average was gaining 44.67 points, or 0.43%. The S&P 500 index was adding 6.70 points or 0.60%, while the NASDAQ was climbing 13.45 points or 0.61%.

The Fed will issue its statement on interest rates and the economy at 2:15 p.m., with interest rates expected to remained unchanged. Wall Street will pay special attention for hints of how and when the Fed expects to unwind the extraordinary stimulus measures it was forced to implement with the financial crisis.

Consumer prices rose 0.4 percent in November, as expected, amid a jump in energy costs. Core prices, which exclude the volatile food and energy components, were flat.

Shares of homebuilders were showing strength after the housing starts rose 8.9% last month, just shy of expectations, but still signaling that housing is on a steady recovery.

Oil and industrial metals gained on optimism the recovery will boost raw material demand. News of a new missile test by the Iran regime, gave an additional lift to the price of crude oil as geopolitical tensions came into play.

Leading the S&P 500, NVIDIA Corporation (NASDAQ:NVDA) was surging 6.90% to $16.73. Shares of the graphic chips maker jumped after the Federal Trade Commission sued the world’s leading computer chipmaker and rival, Intel, accusing it of illegally using its dominant market position for a decade “to stifle competition and strengthen its monopoly.”

The second best performing S&P 500 stock is Advanced Micro Devices (NYSE:AMD) as shares rose 5.22% to $9.28. The chipmaker was also benefiting from the FTC suit against head rival Intel.

The third best percentage gain in the broad market index was from Prudential Financial (NYSE:PRU) jumping 4.88% to $51.55. As an agreement was reached that Wells Fargo & Co will buy Prudential Financial (NYSE:PRU) minority stake in retail brokerage joint venture Wells Fargo Advisors for $4.5 billion.

On the flip side the worst stock in the broad market index was Constellation Brands (NYSE:STZ), as shares tumbled 5.88% to $15.22. The world’s leading wine producer was downgraded by Stifel Nicolaus from a Buy to a Hold. Also Constellation Brands (NYSE:STZ) was sued by Mexican Grupo Modelo for a dispute on 50/50 joint venture, Crown Imports LLC.

Citigroup (NYSE:C) was also dragging the S&P by posting the second worst percentage drop in the broad market index. Shares of the Citi were falling 2.95% to $3.45, as an Abu Dhabi fund alleged that the bank engaged in "fraudulent misrepresentations" in connection with its stock sale. The fund filed a claim against the bank that seeks to either terminate an agreement to buy $7.5 billion worth of Citigroup (NYSE:C) stock or receive damages of more than $4 billion.