US: Stocks rise on Greek deal to stay in eurozone

[NEW YORK] US stocks rose in opening trade Monday, joining a global rally after Greece reached a deal with eurozone leaders that permits it another bailout.

Five minutes into trade, the Dow Jones Industrial Average was at 17,926.50, up 166.09 points (0.94 per cent).

The broad-based S&P 500 rose 16.63 (0.80 per cent) to 2,093.25, while the tech-rich Nasdaq Composite Index gained 44.87 (0.90 per cent) at 5,042.57.

Under the deal, Greek Prime Minister Alexis Tsipras is required to push through the Greek parliament a series of tough austerity measures on pensions and taxes by Wednesday.

After that happens, Greece can begin formal negotiations on a three-year bailout worth up to 86 billion euros (US$96 billion).

AFP