With hope that the “extend and pretend” Greek deal will get done, stocks had another good day. Spurred by the futures overnight, the averages sprung to triple digit gains and the bulls were able to hold those gains and add to them late in the session.
By the close, the Dow Jones Industrial Average was up 217 points to finish the day at 17,977. The S&P 500 was up 22 points to close at 2099. Gold was down $1 to trade at $1156 per ounce, while oil was down $.55 to trade at $52.19 per barrel WTI. Bonds sold off on the potential Greek deal, as rates on the 10 year Treasury note rose to 2.43%.
Keep a look out for our 3rd quarter outlook, which you should see in the next day or two. Maybe the Greece can will be kicked down the road more than a few months this time. If we can get that behind us and settle China down a little, then we can focus on earnings season which kicks into high gear this week.
We’ll keep you up to date with all the proceedings.
Have a nice evening everyone.