Finance and tech stocks lift US markets - New York Report

US STOCKS jumped yesterday, helped by gains in technology and financial shares and optimism that Greece may be closer to reaching a deal with creditors.

All 10 major S&P 500 sectors ended higher, with the technology index up 1.6 per cent and leading sector gainers.

The S&P financial index, which has risen with the prospect of higher interest rates, climbed 1.4 per cent and turned positive for the year as benchmark US bond yields extended recent gains.

The day’s gains also pushed the Dow back into positive territory for the year and snapped four straight sessions of losses in the blue-chip index.

Shares of Goldman Sachs rose two per cent to $213.13, giving the Dow its biggest boost.

Overseas, the chairman of Euro zone finance ministers said a cash-for-reform deal with Athens was still possible in time for their 18 June meeting, with just a few issues remaining to be solved, but Greek counter-proposals were not yet satisfactory.

Netflix was up 3.7 per cent at $671.10 and hit a record intraday high of $692.79, a day after shareholders approved a massive increase in the number of shares the company is authorised to issue, the first step toward a possible stock split.

The Dow Jones industrial average rose 236.36 points, or 1.33 per cent, to 18,000.4, the S&P 500 gained 25.05 points, or 1.2 per cent, to 2,105.2 and the Nasdaq Composite added 62.82 points, or 1.25 per cent, to 5,076.69.