Euro debt news lifts stocks after last week's loss
The Dow rose 109 points as Greece was given more time to repay its debt to France
Traders work on the floor at the New York Stock Exchange in New York, Monday, June 27, 2011. Stocks closed higher on Monday, with two stocks rising for every one that fell.
Seth Wenig / AP
NEW YORK (AP) — Signs that a widespread European debt crisis could be averted are helping U.S. stocks close higher.
French banks agreed to accept slower repayment of Greece's debt, giving Greece more time to meet its other immediate financial obligations. Greek lawmakers are expected to vote this week on more budget-cutting measures.
Amazon.com Inc. rose 4.5 percent, the top-preforming company in the S&P 500 index. Morgan Stanley analysts said the online retailer should benefit from expanding international sales
The Dow Jones industrial average rose 109 points, or 0.9 percent, to 12,044. The S&P 500 rose 12, or 0.9 percent, to 1,280. The Nasdaq rose 35, or 1.3 percent, to 2,688.
Two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 3.2 billion shares, lighter than average.