US stocks rise after optimism over Greek deal - New York Report

US stocks rose yesterday, helped by optimism that Greece was close to an agreement to avoid default and as further gains in bond yields lifted financials.

The S&P financial index climbed 0.7 per cent and was among the day’s top sector performers as US benchmark Treasury debt yields jumped to seven-month highs, extending recent gains.

Adding to the day’s upbeat tone, Greece’s international creditors signalled they were ready to compromise to avert a default even as Athens indicated it might skip an IMF loan repayment due this week.

The Dow Jones industrial average rose 64.33 points, or 0.36 per cent, to 18,076.27, the S&P 500 gained 4.47 points, or 0.21 per cent, to 2,114.07 and the Nasdaq Composite added 22.71 points, or 0.45 per cent, to 5,099.23.

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