U.S. stocks rose, with the Standard & Poor’s 500 Index posting its best three-day rally this year, after Greece reached an agreement with its creditors.
The S&P 500 added 1.1 percent to 2,099.52 at 4 p.m. in New York, closing near its average price during the past 50 days after the gauge earlier surged above its 100-day moving average for the first time this month.
Greek Prime Minister Alexis Tsipras surrendered to European demands for immediate action to qualify for up to 86 billion euros ($95 billion) of aid he needs to keep his country in the euro area. The Greek parliament has until Wednesday to pass into law key creditor demands including streamlining value-added taxes, broadening the tax base to increase revenue and curbing pension costs.
Source : Bloomberg