The Dow and S&P 500 Friday bolted to fresh records
after eurozone ministers agreed to extend Greece's bailout by four
months.
The Dow Jones Industrial Average gained 154.67 points (0.86%) to 18 140.44, notching its first record of 2015.
The broad-based S&P 500 rose 12.85 (0.61%) to 2 110.30, while the tech-rich Nasdaq Composite Index jumped 31.27 (0.63%) to 4,955.97.
The bailout will be extended as long as Greece sets out key reform commitments by Monday, Eurogroup chief Jeroen Dijsselbloem said following a meeting with finance ministers in Brussels.
Markets greeted the news, which removes the immediate threat of a Greek default, though analysts also expressed caution.
"For
now, crisis averted," said Jack Ablin, chief investment officer at BMO
Private Bank, adding that "there is a lingering cloud that's going to
continue to hang over the eurozone."
"It's terrific news but I wouldn't get too excited until a permanent deal is signed," said Chris Low, chief economist at FTN Financial.
The biggest gainer in the Dow was Boeing, which surged 3.0% after Sterne Agee raised its price target on the stock by $32 to $196. The report predicted the aerospace giant would undertake large stock buybacks as its cash pile grows.
Nordstrom advanced 6.0% on news comparable sales in the fourth quarter rose 4.5%. The department store chain projected a 2% to 4% rise in sales in 2015.
Metals producer Newmont Mining gained 4.6% after the company reported $15m in the fourth quarter, compared with a $1.2bn loss last year. The company said gold production would "increase steadily" over the next three years.
Auction house Sotheby's rose 1.3% after investor Marcato Capital Management demanded a $500m share buyback. Marcato holds about 7.4% of the company.
Pharmaceutical company AbbVie jumped 3.9% after hiking its quarterly divided by 4%.
Bond prices were mixed. The yield on the 10-year US Treasury rose to 2.12% from 2.11%, while the 30-year fell to 2.72% from 2.74%.
The Dow Jones Industrial Average gained 154.67 points (0.86%) to 18 140.44, notching its first record of 2015.
The broad-based S&P 500 rose 12.85 (0.61%) to 2 110.30, while the tech-rich Nasdaq Composite Index jumped 31.27 (0.63%) to 4,955.97.
The bailout will be extended as long as Greece sets out key reform commitments by Monday, Eurogroup chief Jeroen Dijsselbloem said following a meeting with finance ministers in Brussels.
Markets greeted the news, which removes the immediate threat of a Greek default, though analysts also expressed caution.
"For
now, crisis averted," said Jack Ablin, chief investment officer at BMO
Private Bank, adding that "there is a lingering cloud that's going to
continue to hang over the eurozone.""It's terrific news but I wouldn't get too excited until a permanent deal is signed," said Chris Low, chief economist at FTN Financial.
The biggest gainer in the Dow was Boeing, which surged 3.0% after Sterne Agee raised its price target on the stock by $32 to $196. The report predicted the aerospace giant would undertake large stock buybacks as its cash pile grows.
Nordstrom advanced 6.0% on news comparable sales in the fourth quarter rose 4.5%. The department store chain projected a 2% to 4% rise in sales in 2015.
Metals producer Newmont Mining gained 4.6% after the company reported $15m in the fourth quarter, compared with a $1.2bn loss last year. The company said gold production would "increase steadily" over the next three years.
Auction house Sotheby's rose 1.3% after investor Marcato Capital Management demanded a $500m share buyback. Marcato holds about 7.4% of the company.
Pharmaceutical company AbbVie jumped 3.9% after hiking its quarterly divided by 4%.
Bond prices were mixed. The yield on the 10-year US Treasury rose to 2.12% from 2.11%, while the 30-year fell to 2.72% from 2.74%.
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