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US Stocks Jump on Hopes for New Greek Aid Package

By: Associated Press
By: Associated Press
stock market 200x120

stock market 200x120

Stocks are rising at the opening of trading on hopes that Greece will get more help managing its debt.

The Dow Jones industrial average is up 124 points, or 1 percent, to 12,565. The S&P 500 is up 13 to 1,344. The Nasdaq composite is up 30 to 2,827.

Hopes for a new aid package for Greece lifted European stocks, the euro and commodities. Crude oil climbed above $103 per barrel.

The U.S. economic recovery remains under stress. Home prices in twelve of the 20 cities in the S&P/Case Shiller home price index dropped to their lowest points since the housing bubble popped in 2006.

Better economic data may come later Tuesday, when economists expect a report to show consumer confidence improved in May.


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