U.S. stocks rose, with the Standard & Poor’s 500 Index climbing from a four-month low, as Chinese equities rebounded the most since 2009 and optimism grew that a Greek debt crisis won’t spread.
The S&P 500 climbed 0.7 percent to 2,061.64 at 12:20 p.m. in New York, after earlier rising as much as 1.4 percent. The Dow Jones Industrial Average advanced 132.32 points, or 0.8 percent, to 17,647.74. The Nasdaq Composite Index rose 0.9 percent.
Greece has until midnight Thursday to present European leaders with a plan that includes spending cuts in exchange for fresh aid. Its government extended capital controls through Monday. European leaders will meet on Sunday to decide their response to the proposals.
In China, stocks halted a rout to post the biggest gain since 2009 amid volatile trading. Regulators banned major stockholders from selling stakes, with more than half the country’s listed companies suspended from trading.
Source : Bloomberg