Investors Bouyed By Gains To End The Week

Wall Street opened sharply higher Friday, buoyed by hopes of an epilogue of the Greek crisis and signs of recovery of Chinese markets.

The Dow gained 223.78 points, or 1.28% on Friday at 17,772.40 points. The S&P 500 had largest gains, growing by 1.22% to 2,076.28 points and the Nasdaq Composite gained 1.30% to 4983.13 points.

The new reform proposals submitted late Thursday evening by Prime Minister Alexis Tsipras are discussed Friday the one hand by the Vouli, Greek unicameral parliament, and partly by the creditors of Athens.

Another factor positively received, the Chinese markets continued their rebound and Friday saw a second day of strong gains, taking advantage of government measures to halt the recent market fall.

The impact of the Greek case and turbulence weighing on Chinese stock markets weighed on Wall Street at the beginning of the week but for Peter Cardillo, Rockwell Global Capital in New York, US markets are “slightly overvalued” and “take every opportunity correction “.

Investors, always attentive to clues for them to specify the timing of recovery rates from the Federal Reserve, will follow the public intervention of its President Janet Yellen on the prospects of the US economy expected at 16:30 GMT in Cleveland, the Ohio.

They also analyze the stock figures and wholesale sales in the month of May at 14:00 GMT published by the Commerce Department.

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Pete Southern

About Pete Southern

Pete is an active investor with knowledge of all sectors but his first love are IPO's. A failed day trader who now understands research. A love of economics and writing seen Pete begin to publish content for various finance blogs. Our main editor and collator of contributions, he is your point of contact via editorial at stockpricetoday.com

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