Dow tops old record high on Greece deal rumor

[Omaha Steve]

Source: USA Today

By: Adam Shell

Rumors that Greece and its creditors may have a deal has pushed stock prices higher in the U.S., where the Dow is trading above its prior record high.

At about 1:30 p.m. ET, the Dow Jones industrial average, which was down more than 100 points earlier in the session, was up nearly 80 points, or 0.4%, to 18,065.11, or 13 points above its Dec. 26 record close of 18,053.71.

The Standard & Poor’s 500-stock index was also trading a fraction above its old record high and the Nasdaq composite was at a fresh 15-year high.

Driving the gains, a Bloomberg report that suggests a deal between debt-strapped Greece and its eurozone creditors will get done today at an emergency meeting in Brussels. Greece is looking for an extension on its current bailout deal.

FULL story at link.



A trader works on the floor of the New York Stock Exchange on Feb. 13, 2015. (Photo by Andrew Burton/Getty Images)


Read more: http://americasmarkets.usatoday.com/2015/02/20/dow-tops-old-record-high-on-greece-deal-rumor/

[SheilaT]

1. Nice.

It's interesting how often people here proclaim an imminent stock market crash. My guess is that no such thing will happen so long as Obama is President. The stock market always does better under Democratic Presidents than under Republican ones.

If a Republican, any Republican is elected in 2016, that will be the time to sell your investments. If a Democrat, any Democrat, stay in the market.