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Stocks started out slowly on Friday but a deal to extend Greece's bail-out for another 4-months gave a boost to the market. It's a temporary fix so we'll be dealing with this again before the summer starts. Oil continues to hold at $50 - a level that seems to keep the stock market bears away. The Dow gained a solid 155-points while the broader indices saw similar gains in the +0.6% to +0.8% range.
It was another mixed day for stocks on Thursday as the Dow lost 44-points (-0.24%), the Nasdaq was up (+0.37%) and the S&P 500 was down but basically flat. Volatility continues to subside despite some bad news out of Greece and a sharp intraday decline in oil - which eventually reversed.
Stocks were mixed on Wednesday with a little intraday volatility caused by the release of the Fed Meeting Minutes, but overall the indices traded in a fairly tight range and the VIX (Volatility Index) fell back below the 200-day EMA. The Dow lost 18-points while the S&P 500 was flat and the Nasdaq, Transportation Index, small caps, and international stocks were up.
Stocks opened lower on Tuesday but investors shook off the concerns out of Greece, the indices stabilized and reversed direction, and by mid-afternoon they were in positive territory. The Dow ended the day up 28-points and we saw modest gains in most of the major indices.
Stocks played a little tug-of-war on Friday but the bulls came out on top with the indices closing strongly into the long holiday weekend. All eyes are on the price of oil, which was up on Friday, and Greece as they continue to negotiate their debt situation. The Dow gained 47-points but the broader indices saw even better results percentage-wise, and we saw new all-time highs in some.