U.S. stocks rose, with
the Standard & Poor’s 500 Index near a record, as investors weighed
economic data for clues on the timing of higher interest rates amid
optimism that a deal on Greek aid is within reach.
The S&P 500 Index
climbed 0.1 percent to 2,124.31 at 4 p.m. in New York, after earlier
rising within three points of its record close. The Nasdaq Composite
Index increased 0.1 percent to an all-time high for a second day.
The S&P 500 had
its biggest weekly gain since April in the period ended Friday after the
Federal Reserve signaled it won’t be raising rates quickly as officials
hold out for more decisive evidence of an economic rebound. Three
rounds of Fed bond purchases and near-zero interest rates helped the
benchmark more than triple during the six-year bull market.
Fed Governor Jerome
Powell said today the chances are about 50-50 that the U.S. economy will
improve enough for the central bank to raise interest rates in
September, as the job market strengthens and signs of wage growth
emerge.
Source : Bloomberg
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