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    US stocks closed broadly higher on Friday, with major indexes ending up more than 1 percent on hopes Greece would be able to secure fresh funding at an upcoming meeting, which would allow it to avert bankruptcy and remain in the euro zone. Indexes finished off their highs of the session after Federal Reserve Chair Janet Yellen said she expected the Fed to raise interest rates at some point this year, while expressing concern that the US labor market remained weak. Investors have long expected a rate hike in 2015, though opinions have been split on whether it would come in September or December. Yellen gave no direct hint about whether the U.S. central bank would raise rates more than once over the course of its four remaining meetings in 2015. The day’s gains were widespread, with all 10 of the S&P 500’s primary sectors higher on the day. Euro zone finance ministers will meet on Saturday to decide on a third bailout for Greece, which made substantial concessions in its latest proposal to lenders, including tax hikes, in hopes of receiving USD 59 billion to help it cover debts until 2018. “Investors are betting that a Greek deal will be struck by this Sunday, and that reduction of risk is boosting stocks today. The removal of the risk of an exogenous shock means better market psychology,” said Jim McDonald, who helps oversee USD 960 billion in assets as chief investment strategist at Northern Trust in Chicago. For the week, the Dow rose 0.17 percent while the S&P fell 0.01 percent and the Nasdaq ended down 0.23 percent in its third straight weekly decline. Equities were pressured earlier this week by a slowdown in China, weak commodity prices and uncertainty over the Greek debt crisis. Wall Street was also supported on Friday by a continued recovery in China’s equity market, which was helped by a barrage of government support measures. Chinese Premier Li Keqiang said the country would make more targeted changes to its policies to support the economy and promised to increase the transparency of China’s capital and money markets. The Bank of New York Mellon China’s index of Chinese shares traded in the United States rose 2.4 percent. The Dow Jones industrial average rose 211.79 points, or 1.21 percent, to 17,760.41, the S&P 500 gained 25.31 points, or 1.23 percent, to 2,076.62 and the Nasdaq Composite added 75.30 points, or 1.53 percent, to 4,997.70. The US quarterly earnings season kicked off this week, with Pepsi and Alcoa reporting better-than- expected sales. However, corporate earnings are estimated to have fallen 3.1 percent in the second quarter, according to Thomson Reuters data. Cablevision jumped 7.3 percent to USD 26.67 on a Wall Street Journal report that French billionaire Patrick Drahi was looking at cable targets for acquisitions. Zillow fell 7.7 percent to USD 78.67 a day after it said its chief financial officer was leaving to pursue other business interests. Advancing issues outnumbered declining ones on the NYSE by 2,456 to 623, for a 3.94-to-1 ratio on the upside; on the Nasdaq, 2,188 issues rose and 595 fell for a 3.68-to-1 ratio favoring advancers. The benchmark S&P 500 index posted 17 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 83 new highs and 60 new lows. About 5.67 billion shares traded on all US platforms, according to BATS exchange data, compared with the month-to-date average of 7.03 billion.

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    US stocks closed broadly higher on Friday, with major indexes ending up more than 1 percent on hopes Greece would be able to secure fresh funding at an upcoming meeting, which would allow it to avert bankruptcy and remain in the euro zone. Indexes finished off their highs of the session after Federal Reserve Chair Janet Yellen said she expected the Fed to raise interest rates at some point this year, while expressing concern that the US labor market remained weak. Investors have long expected a rate hike in 2015, though opinions have been split on whether it would come in September or December. Yellen gave no direct hint about whether the U.S. central bank would raise rates more than once over the course of its four remaining meetings in 2015. The day’s gains were widespread, with all 10 of the S&P 500’s primary sectors higher on the day. Euro zone finance ministers will meet on Saturday to decide on a third bailout for Greece, which made substantial concessions in its latest proposal to lenders, including tax hikes, in hopes of receiving USD 59 billion to help it cover debts until 2018. “Investors are betting that a Greek deal will be struck by this Sunday, and that reduction of risk is boosting stocks today. The removal of the risk of an exogenous shock means better market psychology,” said Jim McDonald, who helps oversee USD 960 billion in assets as chief investment strategist at Northern Trust in Chicago. For the week, the Dow rose 0.17 percent while the S&P fell 0.01 percent and the Nasdaq ended down 0.23 percent in its third straight weekly decline. Equities were pressured earlier this week by a slowdown in China, weak commodity prices and uncertainty over the Greek debt crisis. Wall Street was also supported on Friday by a continued recovery in China’s equity market, which was helped by a barrage of government support measures. Chinese Premier Li Keqiang said the country would make more targeted changes to its policies to support the economy and promised to increase the transparency of China’s capital and money markets. The Bank of New York Mellon China’s index of Chinese shares traded in the United States rose 2.4 percent. The Dow Jones industrial average rose 211.79 points, or 1.21 percent, to 17,760.41, the S&P 500 gained 25.31 points, or 1.23 percent, to 2,076.62 and the Nasdaq Composite added 75.30 points, or 1.53 percent, to 4,997.70. The US quarterly earnings season kicked off this week, with Pepsi and Alcoa reporting better-than- expected sales. However, corporate earnings are estimated to have fallen 3.1 percent in the second quarter, according to Thomson Reuters data. Cablevision jumped 7.3 percent to USD 26.67 on a Wall Street Journal report that French billionaire Patrick Drahi was looking at cable targets for acquisitions. Zillow fell 7.7 percent to USD 78.67 a day after it said its chief financial officer was leaving to pursue other business interests. Advancing issues outnumbered declining ones on the NYSE by 2,456 to 623, for a 3.94-to-1 ratio on the upside; on the Nasdaq, 2,188 issues rose and 595 fell for a 3.68-to-1 ratio favoring advancers. The benchmark S&P 500 index posted 17 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 83 new highs and 60 new lows. About 5.67 billion shares traded on all US platforms, according to BATS exchange data, compared with the month-to-date average of 7.03 billion.

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    Wall Street Ends Sharply Higher in Broad Rally

    Uploaded by

    mcrworld
    US stocks closed broadly higher on Friday, with major indexes ending up more than 1 percent on hopes Greece would be able to secure fresh funding at an upcoming meeting, which would allow it to avert bankruptcy and remain in the euro zone. Indexes finished off their highs of the session after Federal Reserve Chair Janet Yellen said she expected the Fed to raise interest rates at some point this year, while expressing concern that the US labor market remained weak. Investors have long expected a rate hike in 2015, though opinions have been split on whether it would come in September or December. Yellen gave no direct hint about whether the U.S. central bank would raise rates more than once over the course of its four remaining meetings in 2015. The day’s gains were widespread, with all 10 of the S&P 500’s primary sectors higher on the day. Euro zone finance ministers will meet on Saturday to decide on a third bailout for Greece, which made substantial concessions in its latest proposal to lenders, including tax hikes, in hopes of receiving USD 59 billion to help it cover debts until 2018. “Investors are betting that a Greek deal will be struck by this Sunday, and that reduction of risk is boosting stocks today. The removal of the risk of an exogenous shock means better market psychology,” said Jim McDonald, who helps oversee USD 960 billion in assets as chief investment strategist at Northern Trust in Chicago. For the week, the Dow rose 0.17 percent while the S&P fell 0.01 percent and the Nasdaq ended down 0.23 percent in its third straight weekly decline. Equities were pressured earlier this week by a slowdown in China, weak commodity prices and uncertainty over the Greek debt crisis. Wall Street was also supported on Friday by a continued recovery in China’s equity market, which was helped by a barrage of government support measures. Chinese Premier Li Keqiang said the country would make more targeted changes to its policies to support the economy and promised to increase the transparency of China’s capital and money markets. The Bank of New York Mellon China’s index of Chinese shares traded in the United States rose 2.4 percent. The Dow Jones industrial average rose 211.79 points, or 1.21 percent, to 17,760.41, the S&P 500 gained 25.31 points, or 1.23 percent, to 2,076.62 and the Nasdaq Composite added 75.30 points, or 1.53 percent, to 4,997.70. The US quarterly earnings season kicked off this week, with Pepsi and Alcoa reporting better-than- expected sales. However, corporate earnings are estimated to have fallen 3.1 percent in the second quarter, according to Thomson Reuters data. Cablevision jumped 7.3 percent to USD 26.67 on a Wall Street Journal report that French billionaire Patrick Drahi was looking at cable targets for acquisitions. Zillow fell 7.7 percent to USD 78.67 a day after it said its chief financial officer was leaving to pursue other business interests. Advancing issues outnumbered declining ones on the NYSE by 2,456 to 623, for a 3.94-to-1 ratio on the upside; on the Nasdaq, 2,188 issues rose and 595 fell for a 3.68-to-1 ratio favoring advancers. The benchmark S&P 500 index posted 17 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 83 new highs and 60 new lows. About 5.67 billion shares traded on all US platforms, according to BATS exchange data, compared with the month-to-date average of 7.03 billion.

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    © All Rights Reserved
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    of 9

    Wall Street ends sharply higher

    Presentation by Shubham

    Yellen gave no direct hint about whether the U.S.


    central bank would raise rates more than once over
    the course of its four remaining meetings in 2015.
    The days gains were widespread, with all 10 of the
    S&P 500s primary sectors higher on the day. Euro
    zone finance ministers will meet on Saturday to
    decide on a third bailout for Greece, which made
    substantial concessions in its latest proposal to
    lenders, including tax hikes, in hopes of receiving
    USD 59 billion to help it cover debts until 2018.
    Investors are betting that a Greek deal will be
    struck by this Sunday, and that reduction of risk is
    boosting stocks today.

    Wall Street

    The removal of the risk of an exogenous shock means


    better market psychology, said Jim McDonald, who
    helps oversee USD 960 billion in assets as chief
    investment strategist at Northern Trust in Chicago.
    For the week, the Dow rose 0.17 percent while the
    S&P fell 0.01 percent and the Nasdaq ended down
    0.23 percent in its third straight weekly decline.
    Equities were pressured earlier this week by a
    slowdown in China, weak commodity prices and
    uncertainty over the Greek debt crisis. Wall Street
    was also supported on Friday by a continued recovery
    in Chinas equity market, which was helped by a

    Chinese Premier Li Keqiang said the country would make


    more targeted changes to its policies to support the
    economy and promised to increase the transparency of
    Chinas capital and money markets. The Bank of New
    York Mellon Chinas index of Chinese shares traded in the
    United States rose 2.4 percent. The Dow Jones industrial
    average rose 211.79 points, or 1.21 percent, to
    17,760.41, the S&P 500 gained 25.31 points, or 1.23
    percent, to 2,076.62 and the Nasdaq Composite added
    75.30 points, or 1.53 percent, to 4,997.70. The US
    quarterly earnings season kicked off this week, with Pepsi
    and Alcoa reporting better-than- expected sales. However,
    corporate earnings are estimated to have fallen 3.1

    Wall Street

    Cablevision jumped 7.3 percent to USD 26.67 on a Wall


    Street Journal report that French billionaire Patrick Drahi
    was looking at cable targets for acquisitions. Zillow fell
    7.7 percent to USD 78.67 a day after it said its chief
    financial officer was leaving to pursue other business
    interests. Advancing issues outnumbered declining ones
    on the NYSE by 2,456 to 623, for a 3.94-to-1 ratio on the
    upside; on the Nasdaq, 2,188 issues rose and 595 fell for
    a 3.68-to-1 ratio favoring advancers. The benchmark
    S&P 500 index posted 17 new 52-week highs and 15 new
    lows; the Nasdaq Composite recorded 83 new highs and
    60 new lows. About 5.67 billion shares traded on all US
    platforms, according to BATS exchange data, compared

    www.mcrworld.co

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