European and US stocks rallied overnight after European leaders approved a 109-billion-euro rescue package for Greece, to supplement a 110-billion-euro rescue plan set up by the European Union and the International Monetary Fund in May last year.
Blue-chip Dow Jones industrial average gained 1.2% or 152.50 points to 12,724.41, while the broader Standard and Poor’s 500 index added 1.4% or 17.96 points to 1,343.80. Tech-rich Nasdaq climbed by 0.7% or 20.20 points to 2,834.43.
Trading next week will depend on whether US lawmakers resolve an impasse on a higher borrowing cap or not.Unless the impasse between the US Congress and the White House is resolved, the optimism raised by Europe may soon wear off,
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