The Dow Jones Industrial Average (DJI) enjoyed its sixth straight triple-digit move, adding more than 100 points for the second session in a row. More specifically, the blue-chip barometer tacked on 138 points, as Wall Street waxed optimistic ahead of tomorrow's central-bank policy statement. "It's all about the Fed," stated Schaeffer's Senior Equity Analyst Joe Bell, CMT. "After Monday's late-day sell-off on rumors that the Fed will announce tapering, most participants quickly forgot about the report and bought most sectors across the board. The majority of investors don't believe there will be any major changes, but will definitely be tuning in to get a glimpse of when the infamous tapering might begin."

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

• "Managing risk" ahead of the Fed announcement is crucial, according to Schaeffer's Senior Trading Analyst Bryan Sapp.
• 9 reasons SolarCity Corporation (NASDAQ:SCTY) looks hot, according to Schaeffer's Senior Options Strategist Tony Venosa, CMT.
• How option traders are rolling the dice ahead of Facebook Inc's (NASDAQ:FB) mystery event.

• Inflationary pressure stays tame, housing starts soar, and President Obama weighs in on Big Ben.

The Dow Jones Industrial Average (DJI) rallied 138.4 points, or 0.9%, to 15,318.23, ending north of its 10-day and 20-day moving averages for just the second time in June. Among the Dow's 30 components, all but Merck (NYSE:MRK) and Microsoft (NASDAQ:MSFT) finished in the black. Leading the pack was General Electric (NYSE:GE), which tacked on 2.4% by the close.

The S&P 500 Index (SPX) toppled its own 10-day and 20-day trendlines for the first time since late May, adding 12.8 points, or 0.8%, to end at 1,651.81. Meanwhile, the Nasdaq Composite (COMP) gained 30 points, or 0.9%, to finish at 3,482.18.

The CBOE Market Volatility Index (VIX) traded in a relatively tight range of less than 0.5 point, swallowing a loss of 0.2 point, or 1.1%, to settle at 16.61.

A Trader's Take:

"We quickly rebounded from yesterday's afternoon sell-off, and this morning's inflation data did nothing to detract the buying," remarked Bell. "With the consumer price index (CPI) not showing any signs of high inflation, it could keep the Fed's foot on the gas pedal for just a bit longer."

3 Things to Know About Today's Market:

• The Labor Department's consumer price index (CPI) rose by a seasonally adjusted 0.1% in May, compared to expectations for a 0.2% increase. The core CPI, which excludes food and energy, edged 0.2% higher last month, in line with economists' estimates. (Bureau of Labor Statistics)
• Housing starts soared 6.8% to a seasonally adjusted annual rate of 914,000 in May, according to the Commerce Department. Building permits dropped 3.1% to a rate of 974,000, though permits for single-family homes rose 1.3% to a five-year high of 622,000 units. (MarketWatch)
• Asked if Ben Bernanke could be nominated for another term as Fed Chairman, President Obama said the central banker has "done an outstanding job," but he's "already stayed a lot longer than he wanted or he was supposed to." (CNBC)

5 Stocks We Were Watching Today:

1. Speculators expect more upside for Bank of America (NYSE:BAC) next week.
2. Pacific Crest analysts see higher highs for NetApp (NASDAQ:NTAP).
3. An early upgrade prompted bullish betting on LinkedIn Corporation (NYSE:LNKD).
4. Short-term bears took a relatively rare shine to Molycorp (NYSE:MCP).
5. Yahoo! Inc. (NASDAQ:YHOO) was a popular target among long-term option bulls .

For a look at today's options movers and commodities activity, head to page 2.