You are here

US: Stocks surge after latest Greek proposal

NYSEREUTERS0606.jpg

[NEW YORK] US stocks surged in opening trade Friday, following European equity markets higher after the latest bailout proposal from Greece lifted hopes of a deal with its creditors.

Five minutes into trade, the Dow Jones Industrial Average stood at 17,757.71, up 209.09 points (1.19 per cent).

The broad-based S&P 500 rose 23.06 (1.12 per cent) to 2,074.37, while the tech-rich Nasdaq Composite Index jumped 58.02 (1.18 per cent) to 4,980.42.

Debt-riddled Greece on Thursday submitted a cash-for-reforms plan to creditors that raised hopes that a deal could be struck to avert the country's financial collapse and a potential exit from the eurozone.

Investors also took heart from a 4.54 per cent gain in the benchmark Shanghai Composite Index, the second straight day of gains after the Chinese government announced additional policies to stem market turbulence.

AFP

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom