U.S. stocks pressed higher from the opening bell Tuesday and the broader market averages gained 1.15% to 1.4% across the board. Industrial and financial names led the way higher on the session. Elsewhere, the yield on the benchmark 10-year U.S. Treasury note gained 9.3 basis points to 2.276%. The CBOE S&P 500 Volatility Index (VIX) fell 7%.
In after-hours action, Dentsply (XRAY) said it will merge with competitor Sirona Dental (SIRO) for $13.3 billion of stock.
Looking ahead to Wednesday morning, Cracker Barrel (CBRL) highlights a slow earnings calendar. On the economic front, we'll get a look at weekly mortgage applications and consumer prices ahead of the opening bell.
The two-day FOMC monetary policy meeting begins on Wednesday. According to the CME Group, Fed funds futures are pricing in only a 25% likelihood of an interest rate hike this week, up from 23% yesterday.