Dow Sees Its Best Day of the Year; Volcano Corp. Explodes on M&A

A rally on Wall Street had the Dow Jones Industrial ending on its best day of the year on Wednesday. The S&P 500 had its best day since 2013. Investors cheered the Fed's pledge to be 'patient' as it prepares to raise interest rates next year. Oil prices also bounced back. Crude futures settled $0.54 higher at $56.47 a barrel. Chevron (CVX) was the best blue chip performer. Other gainers in energy included Transocean (RIG), up a whopping 8.5%. Chesapeake (CHK) finished more than 7% higher. FedEx (FDC) dropped almost 4% after delivering disappointing quarterly earnings. Deals news pushed Volcano Corp. (VOLC) to explode more than 55% to the upside. The medical technology company will be acquired by Royal Philips (PHG) for $18 a share.