Stocks rise as Greece clears final bailout hurdle
Greece's cost-cutting bill, along with an uptick in manufacturing, pushed the Dow up 153 points, the Nasdaq up 33 points, and the S&P 500 up 13 points
In this June 22, 2011 photo, traders work on the floor of the New York Stock Exchange. World markets moved higher Thursday, June 30, as investors awaited Greece's final stamp of approval on a package of harsh austerity measures aimed at preventing the heavily indebted country from defaulting.
Richard Drew / AP
NEW YORK (AP) — U.S. stocks are closing broadly higher after Greece cleared a final hurdle toward receiving its next installment of emergency loans. It was the fourth straight day of gains.
Greek lawmakers passed a cost-cutting bill that had to be approved before international lenders would release $17 billion in rescue funds.
An unexpected pickup in manufacturing in the Midwest also helped push stock indexes higher.
The Dow Jones industrial average is up 153 points, or 1.2 percent, to close at 12,414 Thursday.
The S&P 500 is up 13, or 1 percent, to 1,321. The Nasdaq composite is up 33, or 1.2 percent, to 2,774.
Three stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 3.8 billion shares.