Friday, July 1, 2011

Dow Jones Jumps 1.2% To Record A 4-Day Surge Of 4%

Wall Street recap: Dow Jones jumps 1.2% to record a 4-day surge of 4%

The Dow Jones surged 153 points for the fourth day in a row to 12414, thanks to a better-than-expected measure of June Chicago PMI of 61.6 (May: 56.6) and approval of a bailout plan by Greece's parliament.

Greek’s PM gained approval from lawmakers to implement his €78 billion package of budget cuts and asset sales after winning parliamentary backing. Meanwhile, Germany’s biggest banks and insurers as well as the government agreed on a proposal to reinvest money from maturing debt holdings into new Greek bonds through 2014.

Overall, the Dow Jones recorded a 1.2 drop % in June (May: 1.0%) and 0.8% increase in 2Q (1Q: 6.4%).

Daily Dow Jones Has More Rally Towards 12600-12800 Points Amid The Bullish Breakout And Technical


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